Shah Wealth Advisors LLC Invests $888,000 in The Allstate Corporation $ALL

Shah Wealth Advisors LLC acquired a new stake in The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,731 shares of the insurance provider’s stock, valued at approximately $888,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MV Capital Management Inc. purchased a new stake in shares of Allstate during the 4th quarter worth approximately $25,000. Gables Capital Management Inc. purchased a new position in shares of Allstate in the 2nd quarter valued at $26,000. Navalign LLC purchased a new position in shares of Allstate in the 4th quarter valued at $27,000. Kelleher Financial Advisors acquired a new stake in Allstate during the 2nd quarter worth $28,000. Finally, Evolution Wealth Management Inc. raised its stake in Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Down 1.4%

Shares of NYSE:ALL opened at $259.43 on Friday. The stock has a market cap of $65.60 billion, a P/E ratio of 5.18, a P/E/G ratio of 0.60 and a beta of 0.15. The firm has a fifty day moving average price of $256.91 and a 200 day moving average price of $228.76. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. Allstate’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $5.94 EPS. Sell-side analysts predict that The Allstate Corporation will post 34.78 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Allstate News Summary

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate is included among insurers using artificial intelligence, data and technology to improve operating efficiency, underwriting and growth, which could support long-term margins and competitiveness. 3 Insurers to Add to Portfolio as AI Transforms Insurance Operations
• Positive Sentiment: A review of Allstate’s financial strength and earnings outlook suggests the company may merit renewed investor consideration, reinforcing the case for its profitability and balance-sheet position. Affirmed Financial Strength And Earnings Outlook Might Change The Case For Investing In Allstate
• Positive Sentiment: Allstate is highlighted as a value-oriented property-and-casualty insurer with premium growth, underwriting discipline and investment-portfolio gains. 3 P&C Insurers to Add for Better Returns in Sluggish September
• Positive Sentiment: Allstate is listed among low-beta, dividend-paying stocks that could offer defensive characteristics during September volatility, with improving earnings estimates cited as a supporting factor. Buy 5 Stocks to Stay Safe in Wall Street’s Historically Worst Month
• Neutral Sentiment: Comparisons with Tokio Marine focus on relative valuation and value-investing characteristics rather than a new company-specific catalyst. ALL or TKOMY: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: An Allstate driving-safety report ranking for Wichita provides local auto-insurance context but does not materially change the company’s financial outlook. How bad or good are Wichita drivers? See how the city ranks in Allstate report
• Negative Sentiment: Allstate shares have declined since the latest earnings report, prompting questions about whether the stock can rebound despite the company’s stronger-than-expected results. Allstate Down 4.4% Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: A report that Tyler Perry paid an 81-year-old woman’s $18,000 repair bill after Allstate denied her claim could create reputational risk and renewed scrutiny of claims-handling practices, although it appears to be an isolated customer dispute. Tyler Perry pays 81-year-old woman’s $18K repair bill after Allstate denies claim

Insider Transactions at Allstate

In related news, insider John 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 value of $8,886,812.68. Following the transaction, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALL. Morgan Stanley set a $265.00 price objective on shares of Allstate in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lifted their target price on Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Argus set a $238.00 target price on Allstate in a research report on Friday, August 28th. Finally, Citigroup downgraded Allstate from a “neutral” rating to a “sell” rating and raised their price target for the stock from $226.00 to $240.00 in a research note on Tuesday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $263.90.

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.