Wealthfront Advisers LLC Makes New Investment in The Allstate Corporation $ALL

Wealthfront Advisers LLC acquired a new stake in The Allstate Corporation (NYSE:ALL) during the second quarter, HoldingsChannel.com reports. The fund acquired 46,578 shares of the insurance provider’s stock, valued at approximately $11,083,000.

Several other institutional investors have also modified their holdings of the company. Allied Private Wealth LLC acquired a new position in shares of Allstate during the second quarter worth $29,000. Kelleher Financial Advisors acquired a new stake in Allstate during the second quarter worth approximately $28,000. MV Capital Management Inc. purchased a new stake in Allstate in the fourth quarter valued at $25,000. Navalign LLC purchased a new stake in shares of Allstate in the 4th quarter valued at about $27,000. Finally, Evolution Wealth Management Inc. lifted its stake 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 buying an additional 140 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction 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. The trade was a 40.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 92,996 shares of company stock worth $24,543,894 over the last ninety days. 1.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ALL. Atlantic Securities set a $319.00 price objective on Allstate in a research note on Wednesday, July 15th. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Evercore set a $240.00 price objective on Allstate in a report on Friday, July 10th. UBS Group raised their target price on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, Cantor Fitzgerald boosted their target price on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Four investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Hold” and a consensus target price of $265.53.

Allstate Price Performance

ALL stock opened at $260.24 on Thursday. The firm has a 50 day moving average of $249.00 and a 200-day moving average of $224.35. The company has a market cap of $65.80 billion, a price-to-earnings ratio of 5.20, a PEG ratio of 0.40 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business had revenue of $15.43 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same quarter in the prior year, the firm posted $5.94 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts expect that The Allstate Corporation will post 34.5 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is presently 8.63%.

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.