Cullen Investment Group LTD. Buys 314 Shares of The Allstate Co. (NYSE:ALL)

Cullen Investment Group LTD. lifted its stake in The Allstate Co. (NYSE:ALL) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,766 shares of the insurance provider’s stock after purchasing an additional 314 shares during the period. Cullen Investment Group LTD.’s holdings in Allstate were worth $2,548,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Park National Corp OH grew its holdings in shares of Allstate by 4.0% in the first quarter. Park National Corp OH now owns 7,526 shares of the insurance provider’s stock worth $1,302,000 after purchasing an additional 286 shares during the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in Allstate by 3.8% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 9,714 shares of the insurance provider’s stock worth $1,681,000 after acquiring an additional 353 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Allstate during the 4th quarter worth about $72,000. HighPoint Advisor Group LLC bought a new position in Allstate during the 4th quarter worth about $4,544,000. Finally, Livelsberger Financial Advisory bought a new position in Allstate during the 4th quarter worth about $99,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

ALL opened at $160.06 on Wednesday. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $42.24 billion, a PE ratio of 35.33, a P/E/G ratio of 1.50 and a beta of 0.50. The firm has a 50 day moving average of $166.91 and a two-hundred day moving average of $159.06.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.26 billion during the quarter, compared to analyst estimates of $12.76 billion. During the same period last year, the firm posted ($1.30) EPS. Allstate’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts anticipate that The Allstate Co. will post 15.13 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, May 31st. Allstate’s dividend payout ratio (DPR) is 81.24%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALL. Wells Fargo & Company increased their target price on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. Piper Sandler raised their price target on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Evercore ISI raised their price target on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Roth Mkm raised their price target on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average price target of $174.59.

Insider Activity

In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.