Avestar Capital LLC bought a new position in Allstate Corp (NYSE:ALL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,323 shares of the insurance provider’s stock, valued at approximately $226,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. First Mercantile Trust Co. increased its holdings in shares of Allstate by 11.5% in the 1st quarter. First Mercantile Trust Co. now owns 1,030 shares of the insurance provider’s stock valued at $94,000 after acquiring an additional 106 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Allstate by 2.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,182 shares of the insurance provider’s stock valued at $476,000 after buying an additional 116 shares during the last quarter. Cpwm LLC grew its position in shares of Allstate by 1.5% during the 1st quarter. Cpwm LLC now owns 7,708 shares of the insurance provider’s stock valued at $707,000 after buying an additional 116 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Allstate by 1.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 8,931 shares of the insurance provider’s stock valued at $866,000 after buying an additional 121 shares during the last quarter. Finally, Trust Co. of Toledo NA OH grew its position in shares of Allstate by 2.3% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 5,796 shares of the insurance provider’s stock valued at $562,000 after buying an additional 132 shares during the last quarter. 76.53% of the stock is currently owned by hedge funds and other institutional investors.
Allstate stock opened at $94.39 on Friday. The firm has a market cap of $28.92 billion, a PE ratio of 7.88, a P/E/G ratio of 1.12 and a beta of 0.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.31. The firm’s 50 day moving average price is $93.76 and its two-hundred day moving average price is $101.57. Allstate Corp has a twelve month low of $64.13 and a twelve month high of $125.92.
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, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.62. Allstate had a net margin of 9.38% and a return on equity of 17.53%. The firm had revenue of $9.24 billion for the quarter, compared to analyst estimates of $9.64 billion. During the same quarter in the prior year, the business earned $2.30 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Allstate Corp will post 10.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 28th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, August 27th. Allstate’s dividend payout ratio is currently 20.71%.
Several research firms have commented on ALL. Wells Fargo & Co restated a “hold” rating on shares of Allstate in a research report on Tuesday, May 26th. TheStreet upgraded shares of Allstate from a “c+” rating to a “b-” rating in a research report on Tuesday, April 21st. Citigroup decreased their target price on shares of Allstate from $135.00 to $119.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Bank of America began coverage on shares of Allstate in a research report on Monday, June 1st. They issued a “buy” rating for the company. Finally, Morgan Stanley decreased their target price on shares of Allstate from $115.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $115.47.
In related news, CFO Mario Rizzo sold 6,670 shares of Allstate stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $101.39, for a total transaction of $676,271.30. Following the completion of the transaction, the chief financial officer now directly owns 28,235 shares of the company’s stock, valued at approximately $2,862,746.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Wilson sold 652,868 shares of Allstate stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $101.32, for a total transaction of $66,148,585.76. The disclosure for this sale can be found here. Insiders have sold a total of 664,021 shares of company stock valued at $67,275,235 over the last three months. 1.80% of the stock is currently owned by insiders.
Allstate Company Profile
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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