Global Retirement Partners LLC Purchases Shares of 2,883 The Allstate Corporation $ALL

Global Retirement Partners LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,883 shares of the insurance provider’s stock, valued at approximately $580,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Allstate during the fourth quarter worth approximately $231,000. LPL Financial LLC increased its position in shares of Allstate by 4.8% in the first quarter. LPL Financial LLC now owns 262,190 shares of the insurance provider’s stock worth $54,292,000 after acquiring an additional 11,979 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 99 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Allstate in the 1st quarter valued at $786,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of NYSE ALL opened at $213.39 on Friday. 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 Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.89. The business has a 50 day moving average price of $204.68 and a two-hundred day moving average price of $202.44. The firm has a market cap of $55.84 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35.

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

Allstate Dividend Announcement

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 given a $1.00 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate’s payout ratio is presently 12.95%.

Insider Activity

In other news, insider Suren Gupta sold 600 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $215.02, for a total transaction of $129,012.00. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,640,902.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 24,271 shares of company stock valued at $5,222,986. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. upped their target price on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. UBS Group raised their target price on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a report on Monday, November 10th. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 price target (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Finally, Wolfe Research raised shares of Allstate to a “strong-buy” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

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.