Metis Global Partners LLC Grows Position in The Allstate Co. (NYSE:ALL)

16 Nov 2024, 15:21 by Danessa Lincoln · The Markets Daily

Metis Global Partners LLC lifted its holdings in shares of The Allstate Co. (NYSE:ALL – Free Report) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,188 shares of the insurance provider’s stock after purchasing an additional 459 shares during the quarter. Metis Global Partners LLC’s holdings in Allstate were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ALL. Pathway Financial Advisers LLC lifted its stake in Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after acquiring an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares in the last quarter. AQR Capital Management LLC lifted its stake in Allstate by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after acquiring an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in Allstate during the 3rd quarter worth about $77,819,000. Finally, Acadian Asset Management LLC lifted its stake in Allstate by 3,839.0% during the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after acquiring an additional 405,553 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALL shares. Evercore ISI increased their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. UBS Group increased their price target on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Wells Fargo & Company increased their price target on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $214.19.

Get Our Latest Research Report on ALL

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on 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 in the company, valued at $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction that occurred 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 sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. This trade represents a 50.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,049 shares of company stock worth $26,106,112 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Allstate Trading Up 0.6 %

Shares of ALL stock opened at $196.88 on Friday. The business’s 50 day moving average is $189.79 and its two-hundred day moving average is $176.53. The Allstate Co. has a twelve month low of $131.65 and a twelve month high of $201.00. The company has a market capitalization of $52.13 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL – Get Free Report) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the business posted $0.81 EPS. The company’s revenue was up 14.7% on a year-over-year basis. Equities analysts forecast that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Allstate Profile

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