Elevation Point Wealth Partners LLC Raises Holdings in The Allstate Corporation $ALL

Elevation Point Wealth Partners LLC increased its position in The Allstate Corporation (NYSE:ALL) by 12.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,275 shares of the insurance provider’s stock after acquiring an additional 350 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Allstate were worth $659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guerra Pan Advisors LLC increased its stake in shares of Allstate by 1.5% in the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock worth $690,000 after purchasing an additional 49 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Allstate by 4.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock worth $239,000 after buying an additional 53 shares during the period. Linscomb Wealth Inc. boosted its holdings in Allstate by 1.3% in the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after buying an additional 54 shares during the period. Ancora Advisors LLC grew its position 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 purchasing an additional 55 shares in the last quarter. Finally, Cooper Financial Group raised its stake in shares of Allstate by 5.5% during the 2nd quarter. Cooper Financial Group now owns 1,057 shares of the insurance provider’s stock valued at $213,000 after purchasing an additional 55 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ALL shares. Roth Capital upped their target price on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI set a $233.00 price objective on Allstate and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 target price (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. Wells Fargo & Company raised their price objective on shares of Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Finally, Cantor Fitzgerald upgraded Allstate to a “hold” rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

Allstate Stock Down 0.2%

Shares of NYSE:ALL opened at $213.39 on Friday. The stock has a market capitalization of $55.84 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The stock’s 50-day moving average price is $204.68 and its 200-day moving average price is $202.44. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.89.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating the consensus estimate of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.Allstate’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.91 EPS. On average, equities analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. Allstate’s payout ratio is presently 12.95%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 600 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $215.02, for a total transaction of $129,012.00. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at $21,640,902.92. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 24,271 shares of company stock worth $5,222,986. Corporate insiders own 1.70% of the company’s stock.

About Allstate

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.