Diversify Wealth Management LLC Buys New Holdings in The Allstate Corporation $ALL

Diversify Wealth Management LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,702 shares of the insurance provider’s stock, valued at approximately $2,485,000.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Allstate during the 4th quarter worth $531,294,000. GQG Partners LLC increased its holdings in Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after buying an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. raised its stake in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Allstate by 1,766.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after buying an additional 822,583 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in Allstate during the 3rd quarter worth about $148,641,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Mario Rizzo sold 18,578 shares of the 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 sale, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last ninety days. 1.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings restated a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Evercore set a $240.00 price target on Allstate in a report on Friday. Raymond James Financial increased their price target on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Monday, July 6th. Finally, Morgan Stanley raised their price objective on shares of Allstate from $215.00 to $240.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $248.26.

Allstate Stock Performance

Shares of ALL stock opened at $256.43 on Tuesday. The stock’s 50-day moving average is $224.94 and its two-hundred day moving average is $213.37. 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 Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $257.67. The firm has a market cap of $66.01 billion, a price-to-earnings ratio of 5.66, a PEG ratio of 0.44 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.53 EPS. Analysts predict that The Allstate Corporation will post 29.99 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s dividend payout ratio (DPR) is 9.53%.

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.