Tiemann Investment Advisors LLC Takes Position in The Allstate Corporation $ALL

Tiemann Investment Advisors LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,270 shares of the insurance provider’s stock, valued at approximately $1,730,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter valued at approximately $25,000. Navalign LLC bought a new position in Allstate during the 4th quarter worth approximately $27,000. Kelleher Financial Advisors acquired a new position in shares of Allstate in the 2nd quarter worth approximately $28,000. Evolution Wealth Management Inc. lifted its position 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 purchasing an additional 140 shares during the period. Finally, Allied Private Wealth LLC bought a new stake in shares of Allstate in the 2nd quarter valued at $29,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

NYSE:ALL opened at $257.88 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The company has a fifty day moving average of $247.38 and a 200-day moving average of $223.47. The firm has a market capitalization of $65.21 billion, a P/E ratio of 5.15, a P/E/G ratio of 0.41 and a beta of 0.16.

Allstate (NYSE:ALL) last issued its earnings results 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 business had revenue of $15.43 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. Allstate’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.94 earnings per share. As a group, sell-side analysts anticipate that The Allstate Corporation will post 33.92 EPS for the current year.

Allstate Dividend Announcement

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

Insider Activity at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director directly 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 filing with the SEC, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,996 shares of company stock worth $24,543,894 over the last three months. 1.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALL. Wells Fargo & Company cut shares of Allstate from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $243.00 to $250.00 in a research report on Friday, August 7th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $315.00 price target on shares of Allstate in a research report on Tuesday, August 11th. Barclays increased their price target on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. UBS Group lifted their price objective on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Weiss Ratings raised Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $265.53.

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.