Bright Futures Wealth Management LLC. Acquires New Stake in The Allstate Corporation $ALL

Bright Futures Wealth Management LLC. bought a new stake in shares of The Allstate Corporation (NYSE:ALL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,412 shares of the insurance provider’s stock, valued at approximately $518,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Guerra Pan Advisors LLC raised its holdings in shares of Allstate by 1.5% in the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock valued at $690,000 after acquiring an additional 49 shares in the last quarter. Focus Financial Network Inc. increased its position in Allstate by 1.1% during the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after purchasing an additional 52 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Allstate by 4.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 53 shares in the last quarter. L2 Asset Management LLC lifted its position in shares of Allstate by 4.8% in the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock worth $235,000 after purchasing an additional 53 shares during the period. Finally, Howard Capital Management Inc. lifted its position in shares of Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 54 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 0.7%

Shares of NYSE:ALL opened at $214.17 on Monday. The business’s 50-day moving average is $204.23 and its 200 day moving average is $204.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $216.75. The firm has a market capitalization of $55.59 billion, a P/E ratio of 5.61, a P/E/G ratio of 0.45 and a beta of 0.23.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter last year, the company earned $7.67 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is currently 10.47%.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 10th. Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. JPMorgan Chase & Co. boosted their price target on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Wells Fargo & Company dropped their price objective on Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, February 20th. Finally, UBS Group lifted their target price on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.29.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider directly owned 100,646 shares in the company, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.