Pure Financial Advisors LLC Makes New Investment in The Allstate Corporation $ALL

Pure Financial Advisors LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,936 shares of the insurance provider’s stock, valued at approximately $699,000.

Several other hedge funds have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after acquiring an additional 26,586 shares during the period. Strategic Global Advisors LLC grew its holdings in shares of Allstate by 19.2% during the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock worth $10,175,000 after purchasing an additional 7,870 shares in the last quarter. Elevation Point Wealth Partners LLC increased its position in shares of Allstate by 130.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock worth $4,016,000 after purchasing an additional 10,936 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of Allstate in the second quarter worth $6,861,000. Finally, CIBC Asset Management Inc raised its stake in Allstate by 69.2% in the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock valued at $13,116,000 after purchasing an additional 25,764 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 $262.08 on Thursday. The company has a market capitalization of $66.27 billion, a P/E ratio of 5.23, a PEG ratio of 0.39 and a beta of 0.16. The company has a fifty day moving average price of $252.60 and a 200-day moving average price of $226.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same period in the previous year, the business earned $5.94 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts expect that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.6%. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALL. The Goldman Sachs Group reiterated a “neutral” rating and set a $280.00 price objective on shares of Allstate in a research note on Friday, August 7th. Weiss Ratings downgraded shares of Allstate from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Morgan Stanley set a $265.00 price objective on shares of Allstate in a research report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $250.00 target price (down from $255.00) on shares of Allstate in a report on Thursday, August 20th. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Allstate has an average rating of “Hold” and an average target price of $265.26.

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 sale, the insider owned 13,054 shares in the company, valued at $3,515,833.82. This represents a 71.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the company’s 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 SEC filing for this sale provides additional information. Insiders sold a total of 91,446 shares of company stock valued at $24,208,675 in the last quarter. 1.55% of the stock is currently owned by company insiders.

Allstate 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.