AMG National Trust Bank Has $5.52 Million Stake in The Allstate Co. (NYSE:ALL)

AMG National Trust Bank increased its stake in shares of The Allstate Co. (NYSE:ALL) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,596 shares of the insurance provider’s stock after acquiring an additional 2,752 shares during the period. AMG National Trust Bank’s holdings in Allstate were worth $5,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Allstate in the 1st quarter valued at $25,000. Private Wealth Management Group LLC acquired a new stake in Allstate in the 4th quarter valued at $25,000. Rise Advisors LLC acquired a new stake in Allstate in the 1st quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in Allstate in the 1st quarter valued at $26,000. Finally, Versant Capital Management Inc increased its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

ALL stock traded down $0.72 during trading on Friday, reaching $180.51. 1,527,518 shares of the company were exchanged, compared to its average volume of 1,572,086. The company has a 50-day moving average of $168.41 and a two-hundred day moving average of $166.31. The company has a market capitalization of $47.64 billion, a price-to-earnings ratio of 39.85, a P/E/G ratio of 1.86 and a beta of 0.48. The Allstate Co. has a twelve month low of $104.70 and a twelve month high of $184.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick 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, topping analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($4.42) EPS. As a group, equities analysts predict that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,938 shares of company stock worth $36,122,740. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price target on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Piper Sandler boosted their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. BMO Capital Markets boosted their price objective on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Roth Mkm restated a “buy” rating and set a $200.00 price objective on shares of Allstate in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.94.

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.