Harbour Wealth Management Group Inc. Purchases New Position in The Allstate Corporation $ALL

Harbour Wealth Management Group Inc. acquired a new position in The Allstate Corporation (NYSE:ALL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,555 shares of the insurance provider’s stock, valued at approximately $532,000.

Several other large investors have also bought and sold shares of ALL. State Street Corp grew its stake in Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after purchasing an additional 438,034 shares during the period. GQG Partners LLC raised its holdings in Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after purchasing an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. lifted its position in Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares during the period. Boston Partners lifted its position in Allstate by 14.9% during the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after buying an additional 395,195 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of Allstate by 3.3% during the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after buying an additional 88,620 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Down 0.4%

Shares of Allstate stock opened at $220.72 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $56.82 billion, a PE ratio of 4.87, a price-to-earnings-growth ratio of 0.40 and a beta of 0.18. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The company has a 50-day simple moving average of $215.78 and a two-hundred day simple moving average of $209.15.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 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 analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.53 earnings per share. On average, analysts anticipate that The Allstate Corporation will post 29.43 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 2.0%. Allstate’s dividend payout ratio is 9.53%.

Analyst Ratings Changes

ALL has been the subject of several research reports. Wells Fargo & Company increased their price target on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Mizuho lowered their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Finally, Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Insider Buying and Selling at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate 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 completion of the sale, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 22,353 shares of company stock worth $4,851,560. Insiders own 1.55% of the company’s stock.

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.