Visionary Wealth Advisors Acquires New Position in The Allstate Corporation $ALL

Visionary Wealth Advisors bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,322 shares of the insurance provider’s stock, valued at approximately $1,266,000.

A number of other large investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Allstate by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after acquiring an additional 26,586 shares during the period. Strategic Global Advisors LLC grew its position in Allstate by 19.2% during the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock worth $10,175,000 after purchasing an additional 7,870 shares during the period. Elevation Point Wealth Partners LLC raised its stake in shares of Allstate by 130.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock valued at $4,016,000 after buying an additional 10,936 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Allstate by 69.2% in the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock worth $13,116,000 after buying an additional 25,764 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Allstate by 8.1% in the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after buying an additional 596,321 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 91,446 shares of company stock worth $24,208,675 over the last quarter. 1.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group lifted their price target on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $243.00 to $250.00 in a research report on Friday, August 7th. Morgan Stanley set a $265.00 price objective on shares of Allstate in a research note on Tuesday, August 11th. Barclays lifted their target price on shares of Allstate from $213.00 to $226.00 and gave the company an “underweight” rating in a report on Thursday, August 6th. Finally, Mizuho boosted their target price on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $265.26.

Allstate Price Performance

Allstate stock opened at $260.35 on Tuesday. The company’s fifty day moving average price is $251.11 and its 200 day moving average price is $225.53. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The stock has a market capitalization of $65.83 billion, a P/E ratio of 5.20, a P/E/G ratio of 0.39 and a beta of 0.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the prior year, the business posted $5.94 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend 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 is presently 8.63%.

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.