Profund Advisors LLC Has $441,000 Holdings in The Allstate Co. (NYSE:ALL)

Posted by Defense World Staff on Apr 23rd, 2023

Profund Advisors LLC raised its holdings in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,251 shares of the insurance provider’s stock after buying an additional 335 shares during the quarter. Profund Advisors LLC’s holdings in Allstate were worth $441,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Accurate Wealth Management LLC acquired a new position in shares of Allstate during the fourth quarter worth approximately $27,000. Standard Family Office LLC acquired a new position in shares of Allstate during the third quarter worth approximately $37,000. First Personal Financial Services acquired a new position in shares of Allstate during the third quarter worth approximately $43,000. Hexagon Capital Partners LLC lifted its holdings in shares of Allstate by 28.1% during the third quarter. Hexagon Capital Partners LLC now owns 356 shares of the insurance provider’s stock worth $44,000 after buying an additional 78 shares during the last quarter. Finally, CI Investments Inc. lifted its holdings in shares of Allstate by 981.8% during the third quarter. CI Investments Inc. now owns 357 shares of the insurance provider’s stock worth $44,000 after buying an additional 324 shares during the last quarter. 77.48% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

Allstate stock opened at $115.78 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $30.47 billion, a P/E ratio of -21.76, a P/E/G ratio of 2.66 and a beta of 0.57. The business’s fifty day moving average is $119.31 and its two-hundred day moving average is $127.46. The Allstate Co. has a 52 week low of $103.20 and a 52 week high of $142.15.

Allstate (NYSE:ALL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The insurance provider reported ($1.36) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.01. The company had revenue of $13.55 billion for the quarter, compared to analyst estimates of $13.45 billion. Allstate had a negative return on equity of 1.04% and a negative net margin of 2.55%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.75 earnings per share. Equities research analysts forecast that The Allstate Co. will post 6.31 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Tuesday, February 28th were paid a $0.89 dividend. The ex-dividend date was Monday, February 27th. This represents a $3.56 dividend on an annualized basis and a yield of 3.07%. This is a positive change from Allstate’s previous quarterly dividend of $0.85. Allstate’s payout ratio is currently -66.92%.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 29,451 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $134.18, for a total transaction of $3,951,735.18. Following the transaction, the chief financial officer now owns 16,668 shares of the company’s stock, valued at $2,236,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Roth Capital restated a “buy” rating on shares of Allstate in a research report on Thursday, February 2nd. Bank of America boosted their price objective on Allstate from $145.00 to $147.00 in a research report on Friday. Wells Fargo & Company lowered their price objective on Allstate from $104.00 to $100.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 5th. Piper Sandler boosted their price objective on Allstate from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, April 4th. Finally, TheStreet cut Allstate from a “b-” rating to a “c+” rating in a research report on Wednesday, March 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Allstate Company Profile

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The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.