Proficio Capital Partners LLC Invests $479,000 in The Allstate Corporation $ALL

Proficio Capital Partners LLC acquired a new position in The Allstate Corporation (NYSE:ALL) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,014 shares of the insurance provider’s stock, valued at approximately $479,000.

Several other hedge funds have also recently added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new stake in Allstate in the fourth quarter worth about $25,000. Gables Capital Management Inc. acquired a new position in Allstate during the 2nd quarter valued at about $26,000. Navalign LLC acquired a new position in Allstate during the 4th quarter valued at about $27,000. Kelleher Financial Advisors bought a new stake in shares of Allstate during the 2nd quarter worth about $28,000. Finally, Evolution Wealth Management Inc. lifted its stake in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL opened at $257.24 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The firm’s 50 day moving average is $253.33 and its 200-day moving average is $226.56. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The stock has a market capitalization of $65.05 billion, a P/E ratio of 5.14, a P/E/G ratio of 0.40 and a beta of 0.16.

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

Allstate Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on ALL shares. HSBC cut shares of Allstate from a “buy” rating to a “hold” rating and increased their price objective for the company from $244.00 to $264.00 in a report on Monday, July 6th. Weiss Ratings downgraded Allstate from a “buy (a)” rating to a “buy (a-)” rating in a research report on Tuesday. Citigroup lowered Allstate from a “neutral” rating to a “sell” rating and increased their price target for the company from $226.00 to $240.00 in a research note on Tuesday, August 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $280.00 price target on shares of Allstate in a research report on Friday, August 7th. Finally, Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $265.26.

Insider Activity

In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction on 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 transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 91,446 shares of company stock worth $24,208,675. Insiders own 1.55% of the company’s stock.

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.