Inceptionr LLC Purchases New Holdings in The Allstate Corporation $ALL

Inceptionr LLC acquired a new position in The Allstate Corporation (NYSE:ALL) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,493 shares of the insurance provider’s stock, valued at approximately $1,139,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new stake in shares of Allstate in the fourth quarter valued at $25,000. Dorato Capital Management acquired a new stake in shares of Allstate in the fourth quarter worth $27,000. Navalign LLC purchased a new position in shares of Allstate during the fourth quarter valued at $27,000. Evolution Wealth Management Inc. grew its holdings 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 buying an additional 140 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Allstate during the first quarter valued at $30,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

NYSE ALL opened at $260.16 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $66.97 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $260.65. The company has a 50 day moving average price of $231.16 and a two-hundred day moving average price of $216.00.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the business posted $3.53 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts predict that The Allstate Corporation will post 30.51 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is 9.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALL shares. Mizuho increased their price objective on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Evercore set a $240.00 target price on Allstate in a report on Friday, July 10th. Wells Fargo & Company increased their price target on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, UBS Group cut shares of Allstate from a “buy” rating to a “neutral” rating and raised their price target for the stock from $255.00 to $261.00 in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.80.

Insider Buying and Selling at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 over the last 90 days. Insiders own 1.55% of the company’s stock.

About Allstate

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.