InterOcean Capital LLC Takes $263,000 Position in Allstate Corp (NYSE:ALL)

InterOcean Capital LLC purchased a new position in Allstate Corp (NYSE:ALL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,864 shares of the insurance provider’s stock, valued at approximately $263,000.

Other hedge funds also recently bought and sold shares of the company. CAPROCK Group Inc. boosted its holdings in Allstate by 1.7% in the fourth quarter. CAPROCK Group Inc. now owns 5,942 shares of the insurance provider’s stock worth $671,000 after acquiring an additional 100 shares in the last quarter. Corient Capital Partners LLC raised its position in shares of Allstate by 2.9% in the 4th quarter. Corient Capital Partners LLC now owns 4,076 shares of the insurance provider’s stock worth $459,000 after purchasing an additional 113 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Allstate by 2.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,182 shares of the insurance provider’s stock worth $476,000 after purchasing an additional 116 shares in the last quarter. Whittier Trust Co. grew its position in Allstate by 32.5% during the 4th quarter. Whittier Trust Co. now owns 477 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 117 shares during the last quarter. Finally, Palladium Partners LLC increased its stake in Allstate by 4.2% during the 4th quarter. Palladium Partners LLC now owns 3,011 shares of the insurance provider’s stock valued at $339,000 after purchasing an additional 120 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

In other news, CFO Mario Rizzo sold 6,670 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $101.39, for a total value of $676,271.30. Following the completion of the transaction, the chief financial officer now owns 28,235 shares of the company’s stock, valued at $2,862,746.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas J. Wilson sold 2,700 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $101.41, for a total value of $273,807.00. Following the sale, the chief executive officer now owns 332,252 shares of the company’s stock, valued at approximately $33,693,675.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 662,238 shares of company stock valued at $67,098,664. Company insiders own 1.80% of the company’s stock.

NYSE ALL traded up $0.69 on Friday, hitting $94.82. 1,510,228 shares of the company traded hands, compared to its average volume of 2,113,055. The business’s 50 day moving average price is $98.24 and its 200-day moving average price is $106.88. Allstate Corp has a 52-week low of $64.13 and a 52-week high of $125.92. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $29.57 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 1.10 and a beta of 0.91.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.62. The firm had revenue of $9.24 billion for the quarter, compared to analysts’ expectations of $9.64 billion. Allstate had a return on equity of 17.53% and a net margin of 9.38%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.30 EPS. As a group, sell-side analysts predict that Allstate Corp will post 11.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, May 28th. Allstate’s dividend payout ratio is currently 20.71%.

ALL has been the subject of several analyst reports. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating and reduced their price target for the company from $122.00 to $119.00 in a research report on Monday, April 13th. Morgan Stanley lifted their target price on Allstate from $111.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Piper Sandler lifted their price objective on Allstate from $90.00 to $101.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Argus raised their price target on shares of Allstate from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, TheStreet raised shares of Allstate from a “c+” rating to a “b-” rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $115.31.

About Allstate

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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