Independence Bank of Kentucky Acquires 1,145 Shares of The Allstate Co. (NYSE:ALL)

Independence Bank of Kentucky lifted its stake in The Allstate Co. (NYSE:ALL) by 56.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,190 shares of the insurance provider’s stock after purchasing an additional 1,145 shares during the quarter. Independence Bank of Kentucky’s holdings in Allstate were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Allstate in the first quarter worth $25,000. Rise Advisors LLC purchased a new stake in Allstate during the 1st quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate during the 1st quarter valued at about $26,000. Private Wealth Management Group LLC bought a new stake in Allstate during the 4th quarter valued at about $25,000. Finally, Versant Capital Management Inc lifted its stake in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.4 %

NYSE:ALL opened at $180.51 on Monday. The Allstate Co. has a one year low of $104.70 and a one year high of $184.30. The business has a fifty day moving average price of $168.41 and a 200-day moving average price of $166.37. The firm has a market capitalization of $47.64 billion, a price-to-earnings ratio of 39.85, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $14.04 billion. During the same quarter in the prior year, the business posted ($4.42) earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. Sell-side analysts forecast that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Analysts Set New Price Targets

ALL has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Morgan Stanley decreased their price target on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company dropped their price target on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.94.

Insiders Place Their Bets

In related news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The disclosure for this sale can be found here. Insiders sold a total of 201,938 shares of company stock worth $36,122,740 over the last three months. 1.80% of the stock is currently owned by company insiders.

Allstate Profile

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.