Proficio Capital Partners LLC Takes $479,000 Position in The Allstate Corporation $ALL

Proficio Capital Partners LLC bought a new stake in The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,014 shares of the insurance provider’s stock, valued at approximately $479,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Allstate in the fourth quarter valued at approximately $231,000. WINTON GROUP Ltd acquired a new position in Allstate in the 2nd quarter worth approximately $210,000. Treasurer of the State of North Carolina increased its holdings in Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after buying an additional 3,051 shares during the period. Finally, Ieq Capital LLC raised its position in Allstate by 20.1% during the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock worth $7,713,000 after buying an additional 6,412 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ALL shares. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Citigroup cut shares of Allstate from a “neutral” rating to a “sell” rating and raised their target price for the stock from $226.00 to $240.00 in a report on Tuesday, August 11th. Evercore set a $240.00 target price on shares of Allstate in a research report on Friday, July 10th. Argus set a $238.00 price target on shares of Allstate in a report on Friday, August 28th. Finally, UBS Group increased their price target on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Four investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $263.90.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.55% of the company’s stock.

Allstate Trading Up 0.6%

Allstate stock opened at $259.51 on Thursday. The firm has a market cap of $65.62 billion, a PE ratio of 5.18, a P/E/G ratio of 0.59 and a beta of 0.15. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The stock’s 50 day simple moving average is $255.88 and its two-hundred day simple moving average is $228.15. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last posted 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. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same period in the previous year, the firm earned $5.94 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts anticipate that The Allstate Corporation will post 34.78 earnings per share for the current year.

Allstate Announces Dividend

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

Allstate Company 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.