Perigon Wealth Management LLC Makes New $1.28 Million Investment in The Allstate Corporation $ALL

Perigon Wealth Management LLC bought a new stake in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,366 shares of the insurance provider’s stock, valued at approximately $1,277,000.

Several other institutional investors have also bought and sold shares of ALL. Allied Private Wealth LLC bought a new position in Allstate during the 2nd quarter valued at $29,000. Kelleher Financial Advisors bought a new stake in shares of Allstate in the 2nd quarter worth $28,000. MV Capital Management Inc. purchased a new stake in shares of Allstate in the fourth quarter valued at about $25,000. Navalign LLC purchased a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Finally, Evolution Wealth Management Inc. lifted its position in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 1.2%

ALL opened at $261.27 on Wednesday. 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 stock has a market cap of $66.06 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 0.41 and a beta of 0.16. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The company’s 50-day moving average price is $248.26 and its two-hundred day moving average price is $223.92.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. The company had revenue of $15.43 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%. Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.94 EPS. As a group, equities analysts expect that The Allstate Corporation will post 34.2 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. 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 dividend payout ratio (DPR) is currently 8.63%.

Analysts Set New Price Targets

ALL has been the topic of several analyst reports. Raymond James Financial restated a “strong-buy” rating and set a $315.00 price target on shares of Allstate in a report on Tuesday, August 11th. Citigroup cut shares of Allstate from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $226.00 to $240.00 in a research report on Tuesday, August 11th. HSBC downgraded Allstate from a “buy” rating to a “hold” rating and boosted their target price for the stock from $244.00 to $264.00 in a research note on Monday, July 6th. Piper Sandler upped their target price on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, Roth Capital set a $300.00 price target on Allstate in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $265.53.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 92,996 shares of company stock valued at $24,543,894. Corporate 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.