The Allstate Co. (NYSE:ALL) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in The Allstate Co. (NYSE:ALL) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,007,953 shares of the insurance provider’s stock after purchasing an additional 31,789 shares during the quarter. Hsbc Holdings PLC’s holdings in Allstate were worth $160,948,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ALL. Rise Advisors LLC acquired a new position in Allstate in the 1st quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Allstate during the first quarter valued at approximately $26,000. Versant Capital Management Inc raised its holdings in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Allstate during the second quarter valued at approximately $38,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Allstate during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALL shares. Piper Sandler increased their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. TD Cowen increased their target price on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price target on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, Barclays started coverage on Allstate in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Allstate Trading Up 0.4 %

Shares of Allstate stock opened at $190.99 on Thursday. The firm has a market capitalization of $50.41 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 1.74 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $109.01 and a fifty-two week high of $191.56. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average of $178.30 and a 200 day moving average of $169.79.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping 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 analyst estimates of $14.04 billion. During the same period last year, the business posted ($4.42) earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts predict that The Allstate Co. will post 15.16 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.93%. Allstate’s dividend payout ratio is currently 81.24%.

Insider Transactions at Allstate

In other news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Suren Gupta sold 45,775 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. 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 ninety days. Company insiders own 1.80% of the company’s stock.

Allstate Company 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.