Steward Partners Investment Advisory LLC Raises Stock Position in The Allstate Corporation $ALL

Steward Partners Investment Advisory LLC raised its stake in shares of The Allstate Corporation (NYSE:ALL) by 4.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 118,229 shares of the insurance provider’s stock after buying an additional 5,008 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Allstate were worth $23,801,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Evercore ISI set a $233.00 price target on shares of Allstate and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Wolfe Research upgraded Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. lifted their target price on Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Morgan Stanley boosted their price target on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, BMO Capital Markets lifted their price objective on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.64.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 23,671 shares of company stock worth $5,093,974 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Allstate Price Performance

Shares of Allstate stock opened at $212.67 on Tuesday. The company has a market capitalization of $55.65 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 0.69 and a beta of 0.35. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $203.70 and its 200-day simple moving average is $202.12. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.48 by $5.69. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the company earned $3.91 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. Allstate’s payout ratio is 12.95%.

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.