The Allstate Corporation $ALL Shares Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lifted its stake in shares of The Allstate Corporation (NYSE:ALL) by 130.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,288 shares of the insurance provider’s stock after acquiring an additional 10,936 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Allstate were worth $4,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. MV Capital Management Inc. purchased a new stake in Allstate during the fourth quarter valued at about $25,000. Dorato Capital Management purchased a new position in shares of Allstate in the fourth quarter worth approximately $27,000. Navalign LLC purchased a new position in shares of Allstate in the fourth quarter worth approximately $27,000. Palisade Asset Management LLC acquired a new stake in shares of Allstate during the third quarter valued at approximately $31,000. Finally, Princeton Global Asset Management LLC raised its holdings in shares of Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 76 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Down 0.2%

Allstate stock opened at $249.84 on Friday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $250.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $64.31 billion, a PE ratio of 5.51, a P/E/G ratio of 0.44 and a beta of 0.16. The firm’s 50 day moving average price is $220.59 and its two-hundred day moving average price is $211.53.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the business posted $3.53 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts predict that The Allstate Corporation will post 29.75 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a $1.08 dividend. The ex-dividend date was Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s payout ratio is 9.53%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Barclays increased their target price on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a report on Wednesday, April 8th. Citigroup raised their target price on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Keefe, Bruyette & Woods downgraded Allstate from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $266.00 to $242.00 in a report on Monday, June 8th. Finally, Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.33.

Insiders Place Their Bets

In other news, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was 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 $451,474.75. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This represents 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 valued at $4,851,560 in the last three months. 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.