Mackenzie Financial Corp Acquires 2,174 Shares of The Allstate Co. (NYSE:ALL)

Mackenzie Financial Corp increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,284 shares of the insurance provider’s stock after purchasing an additional 2,174 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of Allstate worth $38,364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in Allstate by 20.6% in the second quarter. The Manufacturers Life Insurance Company now owns 203,225 shares of the insurance provider’s stock valued at $32,447,000 after buying an additional 34,702 shares in the last quarter. Marathon Capital Management raised its holdings in shares of Allstate by 8.2% during the second quarter. Marathon Capital Management now owns 4,268 shares of the insurance provider’s stock worth $681,000 after acquiring an additional 325 shares during the period. MBB Public Markets I LLC lifted its position in Allstate by 802.8% in the 2nd quarter. MBB Public Markets I LLC now owns 18,842 shares of the insurance provider’s stock valued at $3,008,000 after acquiring an additional 16,755 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Allstate in the 2nd quarter worth $320,000. Finally, Daymark Wealth Partners LLC bought a new position in Allstate during the 2nd quarter worth about $209,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

ALL opened at $188.36 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 12-month low of $109.01 and a 12-month high of $193.97. The business has a 50 day moving average of $181.32 and a 200-day moving average of $171.40. The stock has a market cap of $49.71 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 1.81 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter last year, the firm posted ($4.42) EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts expect that The Allstate Co. will post 15.2 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALL. Piper Sandler upped their price objective on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. The Goldman Sachs Group boosted their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Bank of America lifted their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen increased their target price on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, BMO Capital Markets lifted their price target on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.76.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock valued at $43,082,657 in the last three months. 1.80% of the stock is currently owned by company insiders.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.