Diversify Advisory Services LLC Buys New Holdings in The Allstate Corporation $ALL

Diversify Advisory Services LLC purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,450 shares of the insurance provider’s stock, valued at approximately $2,469,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter worth approximately $25,000. Gables Capital Management Inc. purchased a new position in Allstate in the second quarter valued at approximately $26,000. Navalign LLC acquired a new position in Allstate during the fourth quarter valued at approximately $27,000. Kelleher Financial Advisors acquired a new position in Allstate during the second quarter valued at approximately $28,000. Finally, Evolution Wealth Management Inc. grew its stake in Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after buying an additional 140 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were 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 of the company’s stock, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 92,996 shares of company stock valued at $24,543,894. Corporate insiders own 1.55% of the company’s stock.

Allstate Trading Up 1.2%

NYSE ALL opened at $261.27 on Wednesday. The company’s fifty day simple moving average is $248.26 and its 200-day simple moving average is $223.92. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market cap of $66.06 billion, a P/E ratio of 5.22, a PEG ratio of 0.41 and a beta of 0.16.

Allstate (NYSE:ALL) last announced 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. The business had revenue of $15.43 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.94 earnings per share. Equities research analysts predict that The Allstate Corporation will post 34.2 EPS for the current fiscal year.

Allstate Dividend Announcement

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 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 currently 8.63%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ALL shares. Evercore set a $240.00 price objective on shares of Allstate in a research report on Friday, July 10th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Atlantic Securities set a $319.00 price target on Allstate in a report on Wednesday, July 15th. Cantor Fitzgerald increased their price target on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Mizuho raised their price objective on Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $265.53.

Allstate 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.