Proficio Capital Partners LLC Purchases New Stake in The Allstate Corporation $ALL

Proficio Capital Partners LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,014 shares of the insurance provider’s stock, valued at approximately $479,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. raised its stake in shares of Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after purchasing an additional 50 shares in the last quarter. Compound Planning Inc. grew its stake in Allstate by 1.6% in the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock worth $669,000 after purchasing an additional 50 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after purchasing an additional 52 shares in the last quarter. Root Financial Partners LLC increased its holdings in Allstate by 4.7% in the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock valued at $243,000 after buying an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. raised its stake in Allstate by 10.2% during the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock valued at $125,000 after buying an additional 55 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of ALL stock opened at $257.24 on Friday. The company has a market cap of $65.05 billion, a P/E ratio of 5.14, a PEG ratio of 0.40 and a beta of 0.16. The business has a 50 day moving average of $253.33 and a two-hundred day moving average of $226.56. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last announced its quarterly earnings results 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. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.94 EPS. As a group, analysts anticipate that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is presently 8.63%.

Analyst Ratings Changes

A number of research firms have commented on ALL. Barclays increased their target price on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Raymond James Financial reissued a “strong-buy” rating and set a $315.00 price target on shares of Allstate in a research report on Tuesday, August 11th. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Evercore set a $240.00 price objective on shares of Allstate in a report on Friday, July 10th. Finally, Weiss Ratings lowered shares of Allstate from a “buy (a)” rating to a “buy (a-)” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $265.26.

Insiders Place Their Bets

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 91,446 shares of company stock valued at $24,208,675 over the last three months. Company insiders own 1.55% of the company’s stock.

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.