MGO One Seven LLC Has $393,000 Stake in The Allstate Co. (NYSE:ALL)

Posted by on Aug 15th, 2023

MGO One Seven LLC boosted its stake in The Allstate Co. (NYSE:ALL – Free Report) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,542 shares of the insurance provider’s stock after buying an additional 232 shares during the quarter. MGO One Seven LLC’s holdings in Allstate were worth $393,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ALL. Cowa LLC acquired a new stake in Allstate in the 1st quarter valued at $30,000. CVA Family Office LLC boosted its stake in Allstate by 48.4% in the first quarter. CVA Family Office LLC now owns 282 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 92 shares in the last quarter. Kalos Management Inc. acquired a new position in Allstate in the first quarter worth $39,000. OLD Mission Capital LLC acquired a new position in Allstate in the fourth quarter worth $41,000. Finally, New England Capital Financial Advisors LLC acquired a new position in Allstate in the fourth quarter worth $46,000. Institutional investors and hedge funds own 75.44% of the company’s stock.

Allstate Stock Down 1.9 %

Shares of Allstate stock opened at $106.92 on Tuesday. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $142.15. The business has a 50-day moving average of $109.52 and a two-hundred day moving average of $115.81. The company has a market capitalization of $27.97 billion, a P/E ratio of -10.33 and a beta of 0.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported ($4.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.83) by ($0.59). Allstate had a negative return on equity of 14.69% and a negative net margin of 4.80%. The business had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $12.30 billion. During the same quarter last year, the company earned ($0.76) earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts predict that The Allstate Co. will post -1.7 EPS for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be issued a $0.89 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.56 annualized dividend and a dividend yield of 3.33%. Allstate’s dividend payout ratio (DPR) is currently -34.40%.

Wall Street Analyst Weigh In

ALL has been the topic of a number of recent analyst reports. Raymond James reduced their price objective on Allstate from $155.00 to $145.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 3rd. Citigroup cut their price target on Allstate from $150.00 to $138.00 in a research note on Tuesday, April 18th. Barclays cut their price target on Allstate from $113.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday. Piper Sandler cut their price target on Allstate from $137.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $117.00 price target on shares of Allstate in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.31.

View Our Latest Analysis on ALL

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 1,565 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $111.22, for a total transaction of $174,059.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Allstate Profile

(Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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