OLD National Bancorp IN Acquires 170 Shares of The Allstate Co. (NYSE:ALL)

OLD National Bancorp IN increased its holdings in The Allstate Co. (NYSE:ALL) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,504 shares of the insurance provider’s stock after acquiring an additional 170 shares during the period. OLD National Bancorp IN’s holdings in Allstate were worth $630,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AE Wealth Management LLC grew its holdings in Allstate by 18.2% during the third quarter. AE Wealth Management LLC now owns 13,363 shares of the insurance provider’s stock valued at $1,489,000 after purchasing an additional 2,059 shares during the period. IFP Advisors Inc grew its holdings in Allstate by 171.1% during the third quarter. IFP Advisors Inc now owns 930 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 587 shares during the period. RFG Advisory LLC bought a new position in Allstate during the third quarter valued at $213,000. Flagship Harbor Advisors LLC bought a new position in Allstate during the third quarter valued at $202,000. Finally, Washington Trust Advisors Inc. grew its holdings in Allstate by 13.2% during the third quarter. Washington Trust Advisors Inc. now owns 1,720 shares of the insurance provider’s stock valued at $192,000 after purchasing an additional 200 shares during the period. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ALL shares. JPMorgan Chase & Co. raised their price target on Allstate from $172.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Jefferies Financial Group raised Allstate from a “hold” rating to a “buy” rating and raised their price target for the stock from $130.00 to $180.00 in a report on Tuesday, January 9th. Piper Sandler raised their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Evercore ISI raised their price target on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, TD Cowen started coverage on Allstate in a report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.71.

Allstate Price Performance

NYSE:ALL opened at $172.27 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a fifty day moving average of $164.72 and a 200 day moving average of $148.59. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $176.93. The firm has a market capitalization of $45.32 billion, a price-to-earnings ratio of -138.93, a P/E/G ratio of 0.43 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. During the same quarter in the previous year, the company posted ($1.36) earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts expect that The Allstate Co. will post 13.44 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.14%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. Allstate’s payout ratio is -296.77%.

Insiders Place Their Bets

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 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.