Avidian Wealth Solutions LLC Raises Position in The Allstate Co. (NYSE:ALL)

Avidian Wealth Solutions LLC lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 12.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,956 shares of the insurance provider’s stock after buying an additional 444 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Allstate were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. First National Trust Co purchased a new position in shares of Allstate during the 4th quarter valued at about $205,000. Ifrah Financial Services Inc. purchased a new position in shares of Allstate during the fourth quarter valued at approximately $204,000. Legacy Financial Advisors Inc. increased its stake in shares of Allstate by 2.8% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,367 shares of the insurance provider’s stock valued at $471,000 after buying an additional 91 shares during the period. Axxcess Wealth Management LLC purchased a new position in shares of Allstate during the fourth quarter valued at approximately $286,000. Finally, Sapient Capital LLC bought a new stake in shares of Allstate during the fourth quarter valued at approximately $701,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on ALL shares. Roth Mkm boosted their price target on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. UBS Group upped their price objective on Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. TheStreet raised Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Morgan Stanley upped their price objective on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their price objective on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.18.

Insider Activity

In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Performance

ALL traded up $1.09 on Monday, reaching $169.27. 490,134 shares of the stock were exchanged, compared to its average volume of 1,672,219. The company’s 50-day moving average price is $166.06 and its 200 day moving average price is $151.27. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $44.67 billion, a PE ratio of 37.41, a PEG ratio of 0.39 and a beta of 0.51.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion during the quarter, compared to analyst estimates of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted ($1.30) EPS. As a group, sell-side analysts forecast that The Allstate Co. will post 14.57 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.92 per share. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.17%. Allstate’s payout ratio is presently 81.24%.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.