Avitas Wealth Management LLC grew its holdings in Allstate Corp (NYSE:ALL) by 9.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,206 shares of the insurance provider’s stock after purchasing an additional 854 shares during the period. Avitas Wealth Management LLC’s holdings in Allstate were worth $1,007,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. IMS Capital Management acquired a new position in Allstate in the third quarter worth approximately $114,000. Federated Investors Inc. PA boosted its position in Allstate by 120.9% during the third quarter. Federated Investors Inc. PA now owns 1,115,465 shares of the insurance provider’s stock worth $110,096,000 after purchasing an additional 610,526 shares during the period. Rehmann Capital Advisory Group boosted its position in Allstate by 13.1% during the third quarter. Rehmann Capital Advisory Group now owns 11,233 shares of the insurance provider’s stock worth $1,109,000 after purchasing an additional 1,302 shares during the period. HM Payson & Co. bought a new stake in Allstate during the third quarter worth approximately $1,547,000. Finally, JGP Wealth Management LLC bought a new stake in Allstate during the third quarter worth approximately $237,000. Institutional investors own 77.06% of the company’s stock.
In related news, EVP Jesse E. Merten sold 696 shares of Allstate stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $92.12, for a total value of $64,115.52. Following the sale, the executive vice president now owns 2,102 shares of the company’s stock, valued at approximately $193,636.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.
A number of brokerages have issued reports on ALL. Zacks Investment Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 13th. Citigroup set a $115.00 price objective on Allstate and gave the company a “buy” rating in a research report on Friday, October 12th. Wells Fargo & Co set a $100.00 price objective on Allstate and gave the company a “hold” rating in a research report on Thursday, December 13th. ValuEngine lowered Allstate from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Argus cut their target price on Allstate from $115.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, November 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $99.27.
Shares of NYSE:ALL traded down $0.09 during midday trading on Friday, reaching $83.45. The company’s stock had a trading volume of 1,821,657 shares, compared to its average volume of 2,727,132. The firm has a market cap of $28.64 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.09 and a beta of 0.85. Allstate Corp has a fifty-two week low of $77.00 and a fifty-two week high of $104.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.26 and a current ratio of 0.26.
Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.28). Allstate had a return on equity of 15.48% and a net margin of 9.38%. The company had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter last year, the business posted $1.60 EPS. Allstate’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that Allstate Corp will post 8.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, November 30th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 27.42%.
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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