Morey & Quinn Wealth Partners LLC Has $2.04 Million Stock Position in The Allstate Corporation $ALL

Morey & Quinn Wealth Partners LLC trimmed its stake in shares of The Allstate Corporation (NYSE:ALL) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 10,135 shares of the insurance provider’s stock after selling 87 shares during the period. Allstate comprises 1.6% of Morey & Quinn Wealth Partners LLC’s holdings, making the stock its 12th biggest holding. Morey & Quinn Wealth Partners LLC’s holdings in Allstate were worth $2,040,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ALL. Rehmann Capital Advisory Group raised its stake in shares of Allstate by 3.2% in the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after acquiring an additional 51 shares during the last quarter. Vantage Point Financial LLC raised its stake in shares of Allstate by 3.6% in the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock valued at $310,000 after acquiring an additional 52 shares during the last quarter. Confluence Wealth Services Inc. raised its stake in shares of Allstate by 0.7% in the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock valued at $1,558,000 after acquiring an additional 54 shares during the last quarter. Linscomb Wealth Inc. raised its stake in shares of Allstate by 1.3% in the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock valued at $845,000 after acquiring an additional 54 shares during the last quarter. Finally, Ancora Advisors LLC raised its stake in shares of Allstate by 0.7% in the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock valued at $1,740,000 after acquiring an additional 55 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALL has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on shares of Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Wolfe Research upgraded shares of Allstate to a “strong-buy” rating in a research report on Tuesday, September 16th. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $232.50.

Allstate Stock Performance

Shares of Allstate stock opened at $212.46 on Thursday. The firm has a fifty day moving average of $205.82 and a two-hundred day moving average of $201.13. The stock has a market capitalization of $55.99 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 0.82 and a beta of 0.38. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. As a group, equities research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were given a dividend of $1.00 per share. The ex-dividend date was Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate’s payout ratio is presently 18.81%.

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.