Elevation Point Wealth Partners LLC Purchases 10,936 Shares of The Allstate Corporation $ALL

Elevation Point Wealth Partners LLC lifted its position in The Allstate Corporation (NYSE:ALL) by 130.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,288 shares of the insurance provider’s stock after buying an additional 10,936 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Allstate were worth $4,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Innova Wealth Partners grew its stake in Allstate by 31.8% in the 1st quarter. Innova Wealth Partners now owns 1,674 shares of the insurance provider’s stock valued at $347,000 after buying an additional 404 shares during the last quarter. Root Financial Partners LLC lifted its position in Allstate by 4.7% during the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock worth $243,000 after acquiring an additional 53 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in Allstate by 3.2% during the first quarter. Essex Financial Services Inc. now owns 9,573 shares of the insurance provider’s stock valued at $1,985,000 after acquiring an additional 293 shares during the period. CHICAGO TRUST Co NA boosted its holdings in Allstate by 259.6% during the first quarter. CHICAGO TRUST Co NA now owns 7,335 shares of the insurance provider’s stock valued at $1,521,000 after acquiring an additional 5,295 shares during the period. Finally, USS Investment Management Ltd grew its position in shares of Allstate by 2.4% in the first quarter. USS Investment Management Ltd now owns 40,765 shares of the insurance provider’s stock valued at $8,454,000 after purchasing an additional 974 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALL has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays lifted their price target on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods lowered Allstate from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $266.00 to $242.00 in a report on Monday, June 8th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.33.

Insider Activity

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 22,353 shares of company stock worth $4,851,560. Company insiders own 1.55% of the company’s stock.

Allstate Stock Down 0.2%

NYSE ALL opened at $249.84 on Friday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $250.38. The stock has a market cap of $64.31 billion, a PE ratio of 5.51, a PEG ratio of 0.44 and a beta of 0.16. The firm has a 50-day simple moving average of $220.59 and a 200 day simple moving average of $211.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.53 earnings per share. On average, research analysts forecast that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a dividend of $1.08 per share. The ex-dividend date was Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s payout ratio is currently 9.53%.

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.