IHT Wealth Management LLC purchased a new stake in Allstate Corp (NYSE:ALL) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,204 shares of the insurance provider’s stock, valued at approximately $348,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Enlightenment Research LLC purchased a new position in shares of Allstate in the 2nd quarter worth approximately $213,000. Clearstead Advisors LLC lifted its position in Allstate by 34.3% in the second quarter. Clearstead Advisors LLC now owns 6,970 shares of the insurance provider’s stock worth $709,000 after buying an additional 1,782 shares during the last quarter. CIBC Asset Management Inc lifted its position in Allstate by 1.5% in the second quarter. CIBC Asset Management Inc now owns 37,157 shares of the insurance provider’s stock worth $3,778,000 after buying an additional 549 shares during the last quarter. Braun Stacey Associates Inc. boosted its stake in Allstate by 1.1% during the second quarter. Braun Stacey Associates Inc. now owns 155,932 shares of the insurance provider’s stock worth $15,857,000 after buying an additional 1,698 shares during the period. Finally, Bailard Inc. boosted its stake in Allstate by 3.1% during the second quarter. Bailard Inc. now owns 62,138 shares of the insurance provider’s stock worth $6,319,000 after buying an additional 1,852 shares during the period. Institutional investors own 77.05% of the company’s stock.
In other Allstate news, EVP Susan L. Lees sold 27,650 shares of Allstate stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $108.30, for a total transaction of $2,994,495.00. Following the completion of the sale, the executive vice president now directly owns 53,165 shares of the company’s stock, valued at approximately $5,757,769.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Croker Trevor bought 44,975 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $34.22 per share, with a total value of $1,539,044.50. 1.60% of the stock is currently owned by insiders.
NYSE ALL opened at $111.14 on Tuesday. The stock has a market cap of $36.07 billion, a PE ratio of 13.01, a PEG ratio of 1.33 and a beta of 0.81. Allstate Corp has a 12 month low of $77.00 and a 12 month high of $112.64. The company’s 50-day moving average price is $108.89 and its 200-day moving average price is $104.35. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.29.
Allstate (NYSE:ALL) last announced its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.32. The company had revenue of $10.87 billion during the quarter, compared to analyst estimates of $9.07 billion. Allstate had a net margin of 6.57% and a return on equity of 13.83%. During the same quarter last year, the business posted $1.93 EPS. As a group, sell-side analysts forecast that Allstate Corp will post 10.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Wednesday, November 27th. Allstate’s dividend payout ratio is presently 24.78%.
Several brokerages have recently weighed in on ALL. Morgan Stanley increased their target price on shares of Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Barclays set a $125.00 price target on shares of Allstate and gave the stock a “buy” rating in a research note on Monday, August 12th. UBS Group upped their price target on shares of Allstate from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. ValuEngine lowered shares of Allstate from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, Buckingham Research raised their price objective on shares of Allstate from $100.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Allstate presently has an average rating of “Hold” and a consensus target price of $109.55.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
Further Reading: Quiet Period Expirations
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