The Allstate Corporation $ALL Shares Purchased by McGowan Group Asset Management Inc.

McGowan Group Asset Management Inc. boosted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 1,020.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,666 shares of the insurance provider's stock after acquiring an additional 31,573 shares during the quarter. McGowan Group Asset Management Inc.'s holdings in Allstate were worth $6,979,000 at the end of the most recent reporting period.

• Why Insurance Stocks May Struggle Despite Strong Highs

Other institutional investors have also made changes to their positions in the company. Avantax Advisory Services Inc. grew its position in shares of Allstate by 3.1% during the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider's stock valued at $4,745,000 after buying an additional 704 shares during the last quarter. Atlas Capital Advisors Inc. boosted its stake in Allstate by 197.3% in the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock valued at $1,390,000 after acquiring an additional 4,454 shares during the period. Commonwealth Retirement Investments LLC grew its holdings in shares of Allstate by 103.5% during the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider's stock valued at $2,609,000 after purchasing an additional 6,590 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Allstate during the 1st quarter worth approximately $22,405,000. Finally, Advisors Capital Management LLC bought a new stake in shares of Allstate in the 1st quarter worth approximately $301,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets increased their target price on Allstate from $235.00 to $244.00 and gave the stock an "outperform" rating in a research report on Friday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $254.00 to $260.00 and gave the stock an "overweight" rating in a research report on Thursday, November 6th. Jefferies Financial Group lifted their price objective on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Finally, Evercore ISI set a $233.00 price target on Allstate and gave the company an "in-line" rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Allstate has an average rating of "Moderate Buy" and an average target price of $237.92.

• 3 Sector ETFs Catching Fire After Earnings Beats

Check Out Our Latest Report on Allstate

Insider Activity

In related news, insider Suren Gupta sold 21,871 shares of the business's stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the sale, the insider directly owned 100,646 shares in the company, valued at $21,660,025.66. The trade was a 17.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 28,807 shares of company stock valued at $6,198,726. Insiders own 1.70% of the company's stock.

Allstate Stock Performance

• 6 Stocks Poised to Benefit From a Trade War in Unexpected Ways

Shares of NYSE ALL opened at $208.64 on Thursday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.89. The firm has a market cap of $54.60 billion, a P/E ratio of 6.75, a PEG ratio of 0.39 and a beta of 0.25. The stock has a fifty day moving average price of $204.77 and a two-hundred day moving average price of $202.52. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts' consensus estimates of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The company had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the previous year, the business earned $3.91 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a dividend of $1.00 per share. The ex-dividend date is Monday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate's dividend payout ratio (DPR) is 12.95%.

Allstate Company 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.

Featured Stories

• Five stocks we like better than Allstate
• What is a support level?
• MongoDB Just Posted a Blowout Quarter—But Is It Too Hot to Touch?
• How to Calculate Return on Investment (ROI)
• 3 Stocks Poised to Benefit From Google’s AI Breakthough
• Why Invest in High-Yield Dividend Stocks?
• Beyond NVIDIA: 5 Semiconductor Stocks Set to Dominate 2026

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Allstate Right Now?

Before you consider Allstate, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Allstate wasn't on the list.

While Allstate currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here