25,159 Shares in The Allstate Corporation $ALL Acquired by Principle Wealth Partners LLC

Principle Wealth Partners LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,159 shares of the insurance provider’s stock, valued at approximately $5,986,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Allstate during the 2nd quarter valued at about $150,525,000. OneDigital Investment Advisors LLC acquired a new stake in Allstate during the second quarter worth about $1,808,000. Plato Investment Management Ltd acquired a new stake in Allstate during the second quarter worth about $1,341,000. Bell Investment Advisors Inc purchased a new position in Allstate during the second quarter worth about $68,000. Finally, AMG National Trust Bank acquired a new position in Allstate in the 2nd quarter valued at about $2,060,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allstate

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 92,996 shares of company stock worth $24,543,894 over the last quarter. Company insiders own 1.55% of the company’s stock.

Allstate Trading Down 1.4%

Shares of ALL stock opened at $257.88 on Tuesday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. The firm has a market cap of $65.21 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16. The company has a 50-day moving average of $247.38 and a two-hundred day moving average of $223.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business had revenue of $15.43 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same period in the previous year, the firm earned $5.94 EPS. The business’s revenue was up 11.8% on a year-over-year basis. On average, analysts predict that The Allstate Corporation will post 33.92 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. 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 8.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALL. Cantor Fitzgerald increased their price target on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Morgan Stanley set a $265.00 price objective on Allstate in a report on Tuesday, August 11th. UBS Group increased their price objective on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Roth Capital set a $300.00 target price on Allstate in a research note on Thursday, August 6th. Finally, Wells Fargo & Company downgraded Allstate from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $243.00 to $250.00 in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $265.53.

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.