Wealthfront Advisers LLC Purchases 2,269 Shares of The Allstate Corporation $ALL

Wealthfront Advisers LLC raised its position in shares of The Allstate Corporation (NYSE:ALL) by 5.9% during the 1st quarter, Holdings Channel reports. The fund owned 40,815 shares of the insurance provider’s stock after purchasing an additional 2,269 shares during the period. Wealthfront Advisers LLC’s holdings in Allstate were worth $8,463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. MV Capital Management Inc. bought a new stake in Allstate in the fourth quarter worth $25,000. Dorato Capital Management bought a new position in Allstate during the fourth quarter valued at $27,000. Navalign LLC purchased a new position in shares of Allstate in the 4th quarter worth $27,000. Evolution Wealth Management Inc. grew its stake in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after buying an additional 76 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of ALL stock opened at $249.84 on Friday. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $257.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $64.31 billion, a P/E ratio of 5.51, a P/E/G ratio of 0.42 and a beta of 0.16. The stock has a 50 day moving average price of $227.29 and a 200 day moving average price of $214.36.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the company posted $3.53 EPS. Allstate’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that The Allstate Corporation will post 30.26 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s payout ratio is currently 9.53%.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. Weiss Ratings restated a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Cantor Fitzgerald lifted their target price on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. UBS Group downgraded Allstate from a “buy” rating to a “neutral” rating and raised their price target for the stock from $255.00 to $261.00 in a research report on Wednesday. Evercore set a $240.00 price objective on shares of Allstate in a research note on Friday, July 10th. Finally, Raymond James Financial boosted their price objective on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.80.

Insider Transactions at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 22,353 shares of company stock worth $4,851,560. Insiders own 1.55% of the company’s stock.

Allstate 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.