Financial Solutions Advisory Group Inc. Invests $470,000 in The Allstate Corporation $ALL

Financial Solutions Advisory Group Inc. acquired a new position in The Allstate Corporation (NYSE:ALL) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 2,265 shares of the insurance provider’s stock, valued at approximately $470,000.

Other large investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in Allstate during the 4th quarter valued at $25,000. Navalign LLC bought a new position in shares of Allstate in the fourth quarter worth $27,000. Dorato Capital Management bought a new position in shares of Allstate in the fourth quarter worth $27,000. Evolution Wealth Management Inc. increased its holdings 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 valued at $29,000 after purchasing an additional 140 shares during the period. Finally, Palisade Asset Management LLC acquired a new position in shares of Allstate during the third quarter valued at $31,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Down 0.3%

ALL opened at $264.53 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 company has a market capitalization of $68.09 billion, a PE ratio of 5.84, a P/E/G ratio of 0.45 and a beta of 0.16. The stock’s fifty day moving average is $235.94 and its 200-day moving average is $218.05. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22.

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

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.6%. Allstate’s payout ratio is 9.53%.

Wall Street Analyst Weigh In

ALL has been the subject of several research analyst reports. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Mizuho increased their target price on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Evercore set a $240.00 target price on shares of Allstate in a research note on Friday, July 10th. Atlantic Securities set a $319.00 price target on shares of Allstate in a research report on Wednesday, July 15th. Finally, UBS Group lowered shares of Allstate from a “buy” rating to a “neutral” rating and upped their price target for the stock from $255.00 to $261.00 in a research note on Wednesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.80.

Insider Transactions at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% 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.

Allstate Company 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.