Stratos Wealth Partners LTD. boosted its stake in shares of Allstate Corp (NYSE:ALL) by 1.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,931 shares of the insurance provider’s stock after acquiring an additional 121 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Allstate were worth $866,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in Allstate by 31.5% during the first quarter. The Manufacturers Life Insurance Company now owns 346,905 shares of the insurance provider’s stock worth $31,821,000 after buying an additional 83,161 shares during the period. Wilsey Asset Management Inc. boosted its stake in Allstate by 0.8% during the second quarter. Wilsey Asset Management Inc. now owns 155,497 shares of the insurance provider’s stock worth $14,882,000 after buying an additional 1,230 shares during the period. Canandaigua National Corp purchased a new position in Allstate during the second quarter worth about $858,000. State of Alaska Department of Revenue boosted its stake in Allstate by 9.1% during the second quarter. State of Alaska Department of Revenue now owns 117,482 shares of the insurance provider’s stock worth $11,393,000 after buying an additional 9,783 shares during the period. Finally, Westpac Banking Corp boosted its stake in shares of Allstate by 26.0% in the first quarter. Westpac Banking Corp now owns 130,262 shares of the insurance provider’s stock valued at $11,949,000 after purchasing an additional 26,854 shares during the period. 76.53% of the stock is owned by institutional investors.
Several research analysts have recently commented on ALL shares. Piper Sandler raised their price objective on shares of Allstate from $90.00 to $101.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. TheStreet raised shares of Allstate from a “c+” rating to a “b-” rating in a research note on Tuesday, April 21st. Wells Fargo & Co reissued a “hold” rating on shares of Allstate in a research note on Tuesday, May 26th. Bank of America started coverage on shares of Allstate in a research note on Monday, June 1st. They issued a “buy” rating for the company. Finally, Credit Suisse Group reissued a “hold” rating on shares of Allstate in a research note on Thursday, July 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $115.47.
In other news, CEO Thomas J. Wilson sold 652,868 shares of Allstate stock in a transaction on Friday, May 8th. The shares were sold at an average price of $101.32, for a total value of $66,148,585.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 1,783 shares of Allstate stock in a transaction on Monday, June 1st. The shares were sold at an average price of $99.03, for a total transaction of $176,570.49. Following the completion of the transaction, the director now directly owns 1,783 shares in the company, valued at $176,570.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 664,021 shares of company stock worth $67,275,235. 1.80% of the stock is owned by corporate insiders.
ALL stock opened at $94.39 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. Allstate Corp has a twelve month low of $64.13 and a twelve month high of $125.92. The company’s 50 day moving average is $93.76 and its two-hundred day moving average is $101.57. The stock has a market cap of $29.65 billion, a P/E ratio of 7.91, a PEG ratio of 1.15 and a beta of 0.88.
Allstate (NYSE:ALL) last released its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.62. Allstate had a net margin of 9.38% and a return on equity of 17.53%. The company had revenue of $9.24 billion for the quarter, compared to analysts’ expectations of $9.64 billion. During the same quarter last year, the company earned $2.30 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Allstate Corp will post 10.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, August 27th. This represents a $2.16 dividend on an annualized basis and a yield of 2.29%. Allstate’s payout ratio is currently 20.71%.
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.
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