HB Wealth Management LLC Raises Holdings in The Allstate Corporation $ALL

HB Wealth Management LLC grew its holdings in The Allstate Corporation (NYSE:ALL) by 141.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,140 shares of the insurance provider’s stock after buying an additional 21,778 shares during the quarter. HB Wealth Management LLC’s holdings in Allstate were worth $7,701,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. South Plains Financial Inc. raised its position in Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 49 shares in the last quarter. Coldstream Capital Management Inc. boosted its position 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 in the last quarter. Compound Planning Inc. grew its stake 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 period. Humankind Investments LLC grew its stake in shares of Allstate by 4.5% during the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock worth $256,000 after purchasing an additional 51 shares during the period. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of 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 purchasing an additional 52 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Allstate in a report on Thursday, June 18th. Mizuho reduced their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Citigroup upped their price target on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Wells Fargo & Company raised their price objective on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $240.33.

Allstate Stock Performance

NYSE:ALL opened at $249.84 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $64.31 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The firm has a 50-day moving average price of $220.59 and a two-hundred day moving average price of $211.53. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $250.38.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.53 earnings per share. As a group, research analysts expect that The Allstate Corporation will post 29.75 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $1.08 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s dividend payout ratio is presently 9.53%.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the 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 in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is owned by corporate 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.