Morton Community Bank Has $3.25 Million Stake in The Allstate Co. (NYSE:ALL)

Morton Community Bank boosted its holdings in The Allstate Co. (NYSE:ALL) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,340 shares of the insurance provider’s stock after purchasing an additional 762 shares during the quarter. Morton Community Bank’s holdings in Allstate were worth $3,247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALL. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Allstate during the first quarter valued at about $25,000. Private Wealth Management Group LLC acquired a new position in Allstate during the 4th quarter valued at about $25,000. Rise Advisors LLC bought a new stake in Allstate during the 1st quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the first quarter worth approximately $26,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

ALL stock traded down $0.40 during midday trading on Friday, reaching $185.36. 1,687,591 shares of the company’s stock traded hands, compared to its average volume of 1,573,542. The firm has a market capitalization of $48.92 billion, a PE ratio of 40.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.48. The company has a 50-day moving average price of $173.77 and a two-hundred day moving average price of $168.18. The Allstate Co. has a 52 week low of $105.85 and a 52 week high of $191.33. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same period in the previous year, the company posted ($4.42) EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Allstate Co. will post 15.14 EPS for the current year.

Allstate Announces Dividend

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 $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.99%. Allstate’s payout ratio is currently 81.24%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler upped their price target on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Bank of America upped their price objective on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays assumed coverage on Allstate in a research note on Wednesday. They issued an “underweight” rating and a $175.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Insider Buying and Selling

In related news, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the transaction, the executive vice president now directly owns 4,873 shares in the company, valued at $877,968.41. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related 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 completion of the transaction, the executive vice president now directly owns 4,873 shares in the company, valued at $877,968.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value 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 approximately $15,880,915.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,938 shares of company stock worth $36,122,740. Corporate 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.