F M Investments LLC Purchases New Position in The Allstate Co. (NYSE:ALL)

F M Investments LLC purchased a new stake in The Allstate Co. (NYSE:ALL) in the second quarter, Holdings Channel reports. The firm purchased 6,221 shares of the insurance provider’s stock, valued at approximately $993,000.

A number of other large investors have also recently modified their holdings of the company. Panagora Asset Management Inc. boosted its holdings in shares of Allstate by 47.8% in the second quarter. Panagora Asset Management Inc. now owns 572,152 shares of the insurance provider’s stock valued at $91,350,000 after purchasing an additional 185,002 shares during the period. Tobam boosted its holdings in shares of Allstate by 175.1% in the second quarter. Tobam now owns 3,095 shares of the insurance provider’s stock valued at $494,000 after purchasing an additional 1,970 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Allstate by 23.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 110,498 shares of the insurance provider’s stock valued at $17,642,000 after purchasing an additional 20,854 shares during the period. Arkadios Wealth Advisors boosted its holdings in shares of Allstate by 12.2% in the second quarter. Arkadios Wealth Advisors now owns 4,527 shares of the insurance provider’s stock valued at $723,000 after purchasing an additional 491 shares during the period. Finally, Burney Co. boosted its holdings in shares of Allstate by 48.6% in the second quarter. Burney Co. now owns 76,213 shares of the insurance provider’s stock valued at $12,168,000 after purchasing an additional 24,924 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $188.95 on Friday. The firm has a market capitalization of $49.87 billion, a PE ratio of 41.71, 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. The Allstate Co. has a 1-year low of $105.57 and a 1-year high of $189.26. The company’s fifty day moving average price is $170.45 and its 200-day moving average price is $166.99.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($4.42) earnings per share. On average, equities research analysts predict that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

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

Insider Activity

In other Allstate news, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Allstate news, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. The transaction was disclosed in a filing with the SEC, which is available 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 transaction of $16,140,600.00. Following the completion of the sale, 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 201,938 shares of company stock valued at $36,122,740 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALL shares. Morgan Stanley reduced their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Piper Sandler boosted their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group boosted their price objective on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $191.94.

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.