Visionary Wealth Advisors Acquires New Position in The Allstate Corporation $ALL

Visionary Wealth Advisors acquired a new stake in The Allstate Corporation (NYSE:ALL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,322 shares of the insurance provider’s stock, valued at approximately $1,266,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MV Capital Management Inc. acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. purchased a new position in Allstate during the second quarter worth approximately $26,000. Navalign LLC acquired a new position in Allstate during the fourth quarter worth $27,000. Kelleher Financial Advisors purchased a new stake in Allstate in the 2nd quarter valued at $28,000. Finally, Evolution Wealth Management Inc. grew its holdings in Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

ALL stock opened at $260.35 on Tuesday. The business’s fifty day moving average price is $251.11 and its 200 day moving average price is $225.53. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The company has a market capitalization of $65.83 billion, a PE ratio of 5.20, a P/E/G ratio of 0.39 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.94 EPS. On average, sell-side analysts anticipate that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s payout ratio is 8.63%.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 32,996 shares of the company’s 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 completion of the transaction, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 91,446 shares of company stock worth $24,208,675. 1.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target 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. Evercore set a $240.00 price objective on shares of Allstate in a research report on Friday, July 10th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Finally, Piper Sandler lifted their price target on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $265.26.

Allstate Company Profile

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.