Strategic Investment Advisors MI Boosts Stock Holdings in The Allstate Corporation $ALL

Strategic Investment Advisors MI raised its stake in shares of The Allstate Corporation (NYSE:ALL) by 110.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,232 shares of the insurance provider’s stock after acquiring an additional 2,741 shares during the quarter. Strategic Investment Advisors MI’s holdings in Allstate were worth $1,085,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. MV Capital Management Inc. bought a new position in shares of Allstate during the 4th quarter worth approximately $25,000. Dorato Capital Management acquired a new stake in Allstate in the fourth quarter valued at approximately $27,000. Navalign LLC purchased a new position in Allstate in the fourth quarter worth $27,000. Evolution Wealth Management Inc. increased its position in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Allstate during the first quarter worth $30,000. 76.47% of the stock is owned by institutional investors.

Allstate Price Performance

Shares of Allstate stock opened at $265.22 on Friday. The firm has a market cap of $68.27 billion, a PE ratio of 5.85, a P/E/G ratio of 0.47 and a beta of 0.16. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $234.98 and a 200 day moving average price of $217.73.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.53 EPS. Sell-side analysts predict that The Allstate Corporation will post 30.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a $1.08 dividend. 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 1.6%. Allstate’s payout ratio is currently 9.53%.

Insider Buying and Selling at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The shares were 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 $451,474.75. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider owned 27,558 shares in the company, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Roth Capital reissued a “buy” rating and issued a $275.00 price target on shares of Allstate in a report on Friday, July 17th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Evercore set a $240.00 target price on shares of Allstate in a research note on Friday, July 10th. Raymond James Financial upped their price target on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Monday, July 6th. Finally, Citigroup lifted their price objective on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.80.

About Allstate

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.