Tritonpoint Wealth LLC Has $334,000 Stock Holdings in The Allstate Corporation $ALL

Tritonpoint Wealth LLC cut its holdings in The Allstate Corporation (NYSE:ALL) by 13.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,651 shares of the insurance provider’s stock after selling 264 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Allstate were worth $334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in shares of Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock valued at $2,352,000 after buying an additional 2,643 shares in the last quarter. Atlas Capital Advisors Inc. increased its position in Allstate by 197.3% in the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock worth $1,390,000 after purchasing an additional 4,454 shares during the period. Richard Bernstein Advisors LLC acquired a new stake in Allstate in the first quarter worth about $3,341,000. Dock Street Asset Management Inc. acquired a new stake in Allstate in the first quarter worth about $207,000. Finally, First Citizens Bank & Trust Co. increased its position in Allstate by 5.5% in the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider’s stock worth $11,906,000 after purchasing an additional 2,981 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Trading Up 1.4%

NYSE:ALL opened at $212.76 on Monday. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $214.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $56.06 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.84 and a beta of 0.37. The business’s 50-day simple moving average is $203.12 and its 200-day simple moving average is $200.83.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the previous year, the business posted $1.61 EPS. Allstate’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate’s payout ratio is 18.81%.

Analyst Ratings Changes

ALL has been the subject of a number of research reports. Morgan Stanley lifted their price objective on Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an “equal weight” rating in a research report on Tuesday, August 5th. Jefferies Financial Group lifted their price objective on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Cantor Fitzgerald upgraded Allstate to a “hold” rating in a research report on Wednesday, August 13th. Finally, William Blair assumed coverage on shares of Allstate in a research report on Friday, June 6th. They issued a “sector outperform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.38.

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.