553,810 Shares in The Allstate Co. (NYSE:ALL) Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP bought a new stake in shares of The Allstate Co. (NYSE:ALL) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 553,810 shares of the insurance provider’s stock, valued at approximately $95,764,000. Allstate makes up 1.2% of Artemis Investment Management LLP’s holdings, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Fifth Third Wealth Advisors LLC acquired a new stake in Allstate in the first quarter worth approximately $383,000. 180 Wealth Advisors LLC lifted its holdings in shares of Allstate by 25.2% in the first quarter. 180 Wealth Advisors LLC now owns 1,762 shares of the insurance provider’s stock valued at $305,000 after buying an additional 355 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Allstate by 4.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,023 shares of the insurance provider’s stock valued at $11,769,000 after buying an additional 2,940 shares in the last quarter. Corundum Group Inc. acquired a new position in Allstate during the first quarter worth about $212,000. Finally, St. Johns Investment Management Company LLC raised its position in Allstate by 6.8% in the first quarter. St. Johns Investment Management Company LLC now owns 4,222 shares of the insurance provider’s stock worth $730,000 after acquiring an additional 267 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALL has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. The Goldman Sachs Group upped their price target on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. JPMorgan Chase & Co. raised their price objective on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler boosted their target price on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Evercore ISI increased their price target on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $174.88.

Allstate Stock Down 0.2 %

Allstate stock traded down $0.35 during trading hours on Friday, hitting $159.66. The company had a trading volume of 2,576,311 shares, compared to its average volume of 1,603,285. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $42.14 billion, a P/E ratio of 35.17, a price-to-earnings-growth ratio of 1.86 and a beta of 0.50. The firm’s fifty day moving average is $166.32 and its 200-day moving average is $159.84.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. Allstate’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.30) earnings per share. On average, research analysts forecast that The Allstate Co. will post 12.15 earnings per share for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 2.30%. Allstate’s dividend payout ratio is 81.24%.

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.