Axa S.A. Boosts Position in The Allstate Co. (NYSE:ALL)

Axa S.A. grew its position in The Allstate Co. (NYSE:ALL) by 228.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,782 shares of the insurance provider’s stock after buying an additional 10,980 shares during the period. Axa S.A.’s holdings in Allstate were worth $2,520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Allstate by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after purchasing an additional 47,038 shares during the last quarter. Hsbc Holdings PLC raised its position in Allstate by 3.3% in the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after purchasing an additional 31,789 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Allstate by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock worth $130,680,000 after purchasing an additional 8,454 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Allstate by 11.8% during the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock worth $123,574,000 after buying an additional 75,698 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Allstate by 1.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,386 shares of the insurance provider’s stock valued at $118,925,000 after acquiring an additional 6,760 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The disclosure for this sale can be found here. In the last three months, insiders sold 238,305 shares of company stock valued at $43,082,657. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALL shares. Piper Sandler upped their target price 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. JPMorgan Chase & Co. upped their target price 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. Bank of America lifted their price target on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley lowered their target price 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. Finally, The Goldman Sachs Group increased their price objective on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Allstate Trading Up 0.7 %

Shares of ALL opened at $189.65 on Tuesday. The Allstate Co. has a twelve month low of $109.01 and a twelve month high of $193.97. The firm has a market capitalization of $50.05 billion, a P/E ratio of 41.87, a PEG ratio of 1.81 and a beta of 0.48. The firm’s 50-day moving average is $181.62 and its two-hundred day moving average is $171.69. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same period in the prior year, the company earned ($4.42) EPS. The firm’s revenue was up 12.4% on a year-over-year basis. On average, research analysts predict that The Allstate Co. will post 15.2 earnings per share for the current fiscal 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 issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.94%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

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.