Stratos Wealth Partners LTD. boosted its stake in shares of Allstate Corp (NYSE:ALL) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,931 shares of the insurance provider’s stock after buying an additional 121 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Allstate were worth $866,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in Allstate by 31.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 346,905 shares of the insurance provider’s stock valued at $31,821,000 after buying an additional 83,161 shares in the last quarter. Wilsey Asset Management Inc. raised its holdings in shares of Allstate by 0.8% in the 2nd quarter. Wilsey Asset Management Inc. now owns 155,497 shares of the insurance provider’s stock valued at $14,882,000 after purchasing an additional 1,230 shares in the last quarter. Canandaigua National Corp bought a new stake in shares of Allstate in the 2nd quarter valued at about $858,000. State of Alaska Department of Revenue raised its holdings in shares of Allstate by 9.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 117,482 shares of the insurance provider’s stock valued at $11,393,000 after purchasing an additional 9,783 shares in the last quarter. Finally, Westpac Banking Corp raised its holdings in shares of Allstate by 26.0% in the 1st quarter. Westpac Banking Corp now owns 130,262 shares of the insurance provider’s stock valued at $11,949,000 after purchasing an additional 26,854 shares in the last quarter. Institutional investors own 76.53% of the company’s stock.
Several research firms have recently commented on ALL. Bank of America began coverage on shares of Allstate in a report on Monday, June 1st. They issued a “buy” rating for the company. Citigroup reduced their price target on shares of Allstate from $135.00 to $119.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Morgan Stanley reduced their price objective on shares of Allstate from $115.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. Wells Fargo & Co reiterated a “hold” rating on shares of Allstate in a research note on Tuesday, May 26th. Finally, Credit Suisse Group reiterated a “hold” rating on shares of Allstate in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Allstate currently has an average rating of “Buy” and a consensus price target of $115.47.
NYSE:ALL opened at $94.39 on Friday. The company has a market cap of $29.65 billion, a PE ratio of 7.91, a P/E/G ratio of 1.15 and a beta of 0.88. Allstate Corp has a twelve month low of $64.13 and a twelve month high of $125.92. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $93.76 and its two-hundred day moving average is $101.57.
Allstate (NYSE:ALL) last released its earnings results on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.62. The company had revenue of $9.24 billion for the quarter, compared to the consensus estimate of $9.64 billion. Allstate had a net margin of 9.38% and a return on equity of 17.53%. Allstate’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.30 EPS. As a group, analysts expect that Allstate Corp will post 10.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 28th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, August 27th. Allstate’s dividend payout ratio is presently 20.71%.
In other news, CEO Thomas J. Wilson sold 652,868 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $101.32, for a total value of $66,148,585.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 1,783 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $99.03, for a total transaction of $176,570.49. Following the completion of the sale, the director now directly owns 1,783 shares in the company, valued at $176,570.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 664,021 shares of company stock worth $67,275,235. 1.80% of the stock is owned by insiders.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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