Quartz Partners LLC Buys Shares of 2,095 The Allstate Corporation $ALL

Quartz Partners LLC purchased a new stake in The Allstate Corporation (NYSE:ALL) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,095 shares of the insurance provider’s stock, valued at approximately $498,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MV Capital Management Inc. acquired a new position in Allstate in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. purchased a new position in Allstate in the second quarter worth approximately $26,000. Navalign LLC acquired a new stake in Allstate during the fourth quarter worth $27,000. Kelleher Financial Advisors acquired a new stake in Allstate during the second quarter worth $28,000. Finally, Evolution Wealth Management Inc. raised its position in Allstate by 7,000.0% in 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 during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALL shares. Atlantic Securities set a $319.00 price target on Allstate in a research note on Wednesday, July 15th. The Goldman Sachs Group reissued a “neutral” rating and set a $280.00 price objective on shares of Allstate in a research report on Friday, August 7th. Wells Fargo & Company lowered shares of Allstate from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $243.00 to $250.00 in a report on Friday, August 7th. Evercore set a $240.00 target price on shares of Allstate in a research report on Friday, July 10th. Finally, Citigroup lowered shares of Allstate from a “neutral” rating to a “sell” rating and increased their target price for the stock from $226.00 to $240.00 in a research note on Tuesday, August 11th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $265.53.

Insider Activity

In related news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider owned 27,558 shares of the company’s stock, 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. Insiders have sold a total of 92,996 shares of company stock valued at $24,543,894 over the last three months. 1.55% of the stock is currently owned by corporate insiders.

Allstate Price Performance

Allstate stock opened at $260.24 on Thursday. 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 Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The firm has a market cap of $65.80 billion, a PE ratio of 5.20, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16. The company’s 50 day moving average is $249.00 and its two-hundred day moving average is $224.35.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The firm had revenue of $15.43 billion during the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.Allstate’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $5.94 earnings per share. On average, research analysts expect that The Allstate Corporation will post 34.5 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s payout ratio is currently 8.63%.

About Allstate

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.