B. Riley Wealth Advisors Inc. Has $593,000 Stake in The Allstate Co. (NYSE:ALL)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 9.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,131 shares of the insurance provider’s stock after selling 314 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Allstate were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. FSA Wealth Management LLC bought a new stake in Allstate during the 3rd quarter worth about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Allstate in the third quarter valued at approximately $29,000. Family Firm Inc. bought a new position in Allstate in the 2nd quarter worth approximately $38,000. Finally, MCF Advisors LLC lifted its holdings in Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Down 2.1 %

Shares of Allstate stock opened at $189.25 on Thursday. The company has a market capitalization of $50.11 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average of $195.53 and a two-hundred day moving average of $181.99. The Allstate Co. has a 1 year low of $134.17 and a 1 year high of $209.88.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the business earned $0.81 EPS. Allstate’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts predict that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.94%. Allstate’s payout ratio is 23.83%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALL. Keefe, Bruyette & Woods lifted their target price on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Evercore ISI lifted their price objective on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Morgan Stanley upped their target price on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Raymond James increased their price objective on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.19.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

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.