Diversify Wealth Management LLC Makes New $2.48 Million Investment in The Allstate Corporation $ALL

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

A number of other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Allstate during the fourth quarter worth approximately $531,294,000. GQG Partners LLC grew its position in Allstate by 36.0% in the 4th 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. grew its position in Allstate by 29.2% in the 4th 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 during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Allstate by 1,766.9% in the 4th 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 during the period. Finally, Woodline Partners LP purchased a new position in Allstate during the 3rd quarter worth $148,641,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL opened at $256.43 on Tuesday. The company has a 50-day simple moving average of $224.94 and a 200-day simple moving average of $213.37. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $66.01 billion, a PE ratio of 5.66, a P/E/G ratio of 0.44 and a beta of 0.16. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $257.67.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping 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 firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the firm earned $3.53 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that The Allstate Corporation will post 29.99 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared 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. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Citigroup increased their price target on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Morgan Stanley raised their price objective on shares of Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods lifted their price objective on Allstate from $242.00 to $255.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Finally, Raymond James Financial boosted their target price on Allstate from $260.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.26.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last quarter. 1.55% of the stock is currently owned by corporate insiders.

Allstate Company 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.