NewEdge Advisors LLC increased its stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) by 28.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,772 shares of the insurance provider’s stock after buying an additional 11,079 shares during the quarter. NewEdge Advisors LLC’s holdings in Allstate were worth $11,843,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of ALL. Strategic Global Advisors LLC purchased a new stake in shares of Allstate during the second quarter valued at approximately $11,680,000. OMERS ADMINISTRATION Corp purchased a new position in Allstate in the second quarter worth $6,861,000. Elevation Point Wealth Partners LLC boosted its position in Allstate by 130.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock worth $4,016,000 after purchasing an additional 10,936 shares during the last quarter. Bank of America Corp DE grew its stake in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after purchasing an additional 596,321 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Allstate by 69.2% in the 4th quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock valued at $13,116,000 after purchasing an additional 25,764 shares during the period. 76.47% of the stock is currently owned by institutional investors.
Allstate Price Performance
Shares of NYSE:ALL opened at $253.77 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $64.17 billion, a PE ratio of 5.07, a P/E/G ratio of 0.57 and a beta of 0.15. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The company has a 50-day moving average price of $257.92 and a two-hundred day moving average price of $230.39.
Allstate Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is currently 8.63%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on ALL shares. Roth Capital set a $300.00 target price on Allstate in a research note on Thursday, August 6th. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and increased their price target for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Mizuho raised their price objective on shares of Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Weiss Ratings raised shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research report on Wednesday. Finally, Wells Fargo & Company cut shares of Allstate from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $243.00 to $250.00 in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $263.90.
Check Out Our Latest Report on Allstate
Insiders Place Their Bets
In other Allstate news, insider John Dugenske sold 32,996 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider owned 13,054 shares of the company’s stock, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.55% of the company’s stock.
Allstate Profile
Allstate Corporation is an insurance and protection-services company headquartered in Northbrook, Illinois. Through its Allstate and National General brands, the company primarily provides property and casualty insurance to individuals and businesses in the United States.
Its products include automobile, homeowners, renters, condominium, landlord, motorcycle and recreational-vehicle insurance, along with other personal and commercial coverage. Allstate also offers roadside assistance, identity protection and related protection services through its various businesses and distribution channels, including agents, brokers and digital platforms.
Allstate’s roots date to 1931, when the Allstate Insurance Company was established as a subsidiary of Sears, Roebuck & Co The company became independent from Sears in the 1990s.
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