Waddell & Associates LLC Raises Position in The Allstate Co. (NYSE:ALL)

Waddell & Associates LLC grew its position in The Allstate Co. (NYSE:ALL) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,723 shares of the insurance provider’s stock after acquiring an additional 103 shares during the period. Waddell & Associates LLC’s holdings in Allstate were worth $754,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC purchased a new stake in Allstate during the fourth quarter worth about $275,000. Accretive Wealth Partners LLC purchased a new stake in Allstate during the fourth quarter worth about $201,000. 9258 Wealth Management LLC boosted its holdings in Allstate by 10.9% during the fourth quarter. 9258 Wealth Management LLC now owns 10,034 shares of the insurance provider’s stock worth $1,405,000 after buying an additional 987 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Allstate by 16.6% during the fourth quarter. Private Advisor Group LLC now owns 12,218 shares of the insurance provider’s stock worth $1,710,000 after buying an additional 1,741 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its holdings in Allstate by 18.6% during the fourth quarter. Wealthspire Advisors LLC now owns 2,491 shares of the insurance provider’s stock worth $349,000 after buying an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Roth Mkm reissued a “buy” rating and set a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. Piper Sandler lifted their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. BMO Capital Markets lifted their target price on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, Morgan Stanley cut their target price on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Allstate Trading Down 0.2 %

Shares of NYSE:ALL traded down $0.40 during trading on Friday, reaching $185.36. The stock had a trading volume of 1,687,591 shares, compared to its average volume of 1,573,542. The business has a fifty day moving average price of $173.77 and a 200-day moving average price of $168.18. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The stock has a market cap of $48.92 billion, a P/E ratio of 40.92, a PEG ratio of 1.78 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $105.85 and a fifty-two week high of $191.33.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same quarter in the prior year, the business posted ($4.42) earnings per share. Allstate’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, analysts anticipate that The Allstate Co. will post 15.14 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.99%. Allstate’s dividend payout ratio is currently 81.24%.

Insiders Place Their Bets

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The disclosure for this sale can be found here. Insiders sold a total of 201,938 shares of company stock worth $36,122,740 over the last ninety days. 1.80% of the stock is owned by company insiders.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.