Kingsview Wealth Management LLC Buys Shares of 8,651 The Allstate Corporation $ALL

Kingsview Wealth Management LLC purchased a new position in The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,651 shares of the insurance provider’s stock, valued at approximately $2,059,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MV Capital Management Inc. acquired a new position in Allstate during the 4th quarter valued at about $25,000. Gables Capital Management Inc. acquired a new stake in shares of Allstate in the 2nd quarter worth approximately $26,000. Navalign LLC acquired a new stake in shares of Allstate in the 4th quarter worth approximately $27,000. Kelleher Financial Advisors bought a new position in shares of Allstate in the second quarter valued at approximately $28,000. Finally, Evolution Wealth Management Inc. increased its stake 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 acquiring an additional 140 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

Shares of Allstate stock opened at $261.17 on Friday. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. 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 stock has a market cap of $66.04 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.40 and a beta of 0.16. The business has a fifty day simple moving average of $254.14 and a 200-day simple moving average of $226.81.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.94 EPS. On average, sell-side analysts anticipate that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared 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. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is currently 8.63%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALL shares. Citigroup cut Allstate from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $226.00 to $240.00 in a report on Tuesday, August 11th. Weiss Ratings downgraded Allstate from a “buy (a)” rating to a “buy (a-)” rating in a research note on Tuesday. Wells Fargo & Company cut Allstate from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $243.00 to $250.00 in a research note on Friday, August 7th. Keefe, Bruyette & Woods reiterated 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. Finally, Piper Sandler raised their price objective on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $263.90.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares of the company’s stock, valued at $3,515,833.82. This represents a 71.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the firm’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 sale, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 91,446 shares of company stock worth $24,208,675 in the last ninety days. Corporate 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.