Strategic Wealth Advisors LLC bought a new stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,008 shares of the insurance provider’s stock, valued at approximately $626,000. Allstate makes up approximately 0.5% of Strategic Wealth Advisors LLC’s portfolio, making the stock its 14th largest position.
A number of other institutional investors and hedge funds also recently bought and sold shares of ALL. MV Capital Management Inc. purchased a new stake in Allstate in the 4th quarter worth $25,000. Navalign LLC purchased a new position in shares of Allstate during the fourth quarter valued at about $27,000. Kelleher Financial Advisors bought a new stake in shares of Allstate in the second quarter worth about $28,000. Evolution Wealth Management Inc. lifted its position in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Finally, Allied Private Wealth LLC bought a new position in Allstate during the second quarter valued at approximately $29,000. 76.47% of the stock is currently owned by institutional investors.
Allstate Trading Up 1.2%
Shares of ALL stock opened at $261.27 on Wednesday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s 50 day simple moving average is $248.26 and its two-hundred day simple moving average is $223.92. The company has a market cap of $66.06 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16.
Allstate Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 8.63%.
Insider Activity
In other news, insider John E. Dugenske sold 32,996 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 92,996 shares of company stock valued at $24,543,894 over the last ninety days. 1.55% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on ALL shares. HSBC downgraded Allstate from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $244.00 to $264.00 in a research note on Monday, July 6th. Wells Fargo & Company downgraded Allstate from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $243.00 to $250.00 in a research report on Friday, August 7th. Cantor Fitzgerald raised their target price on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Roth Capital set a $300.00 price target on shares of Allstate in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $265.53.
View Our Latest Research Report on Allstate
About Allstate
Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.
The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.
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