Veratis Advisors Inc. Buys Shares of 3,212 The Allstate Corporation $ALL

Veratis Advisors Inc. purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,212 shares of the insurance provider’s stock, valued at approximately $764,000. Allstate accounts for 0.5% of Veratis Advisors Inc.’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MV Capital Management Inc. bought a new stake in Allstate during the 4th quarter worth approximately $25,000. Gables Capital Management Inc. purchased a new stake in shares of Allstate in the 2nd quarter valued at $26,000. Navalign LLC bought a new stake in Allstate during the 4th quarter valued at $27,000. Kelleher Financial Advisors purchased a new position in Allstate in the 2nd quarter worth about $28,000. Finally, Evolution Wealth Management Inc. boosted its holdings in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The shares were 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 in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 91,446 shares of company stock valued at $24,208,675. Corporate insiders own 1.55% of the company’s stock.

Allstate Stock Performance

Allstate stock opened at $260.35 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $65.83 billion, a P/E ratio of 5.20, a PEG ratio of 0.39 and a beta of 0.16. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The stock has a fifty day moving average price of $251.11 and a 200 day moving average price of $225.53.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The firm had revenue of $18.60 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $5.94 earnings per share. Equities research analysts anticipate that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 8.63%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALL shares. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $250.00 price target (down from $255.00) on shares of Allstate in a research report on Thursday, August 20th. Morgan Stanley set a $265.00 target price on Allstate in a research report on Tuesday, August 11th. Wells Fargo & Company downgraded shares of Allstate from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $243.00 to $250.00 in a research report on Friday, August 7th. Barclays boosted their price objective on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Finally, HSBC cut shares of Allstate from a “buy” rating to a “hold” rating and increased their price target for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $265.26.

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.