Wealthfront Advisers LLC Takes Position in The Allstate Corporation $ALL

Wealthfront Advisers LLC bought a new position in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 46,578 shares of the insurance provider’s stock, valued at approximately $11,083,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Coldstream Capital Management Inc. grew its holdings in shares of Allstate by 0.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after purchasing an additional 50 shares during the period. Compound Planning Inc. increased its position in shares of Allstate by 1.6% during the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock worth $669,000 after purchasing an additional 50 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after buying an additional 52 shares during the period. Root Financial Partners LLC raised its holdings in Allstate by 4.7% in the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock valued at $243,000 after buying an additional 53 shares during the period. Finally, Montag A & Associates Inc. boosted its stake in Allstate by 10.2% during the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.3%

Shares of ALL opened at $260.24 on Thursday. The stock has a market capitalization of $65.80 billion, a PE ratio of 5.20, a P/E/G ratio of 0.40 and a beta of 0.16. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The company’s 50-day simple moving average is $249.00 and its 200-day simple moving average is $224.35.

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

Allstate Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on ALL shares. Morgan Stanley set a $265.00 price target on shares of Allstate in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday. Wells Fargo & Company downgraded shares of Allstate from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $243.00 to $250.00 in a report on Friday, August 7th. Evercore set a $240.00 target price on Allstate in a research report on Friday, July 10th. Finally, Barclays upped their price target on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Allstate has an average rating of “Hold” and a consensus target price of $265.53.

Insider Buying and Selling at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 92,996 shares of company stock worth $24,543,894. 1.55% of the stock is currently owned by insiders.

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.