Wealth Enhancement Advisory Services LLC Boosts Holdings in The Allstate Corporation $ALL

Wealth Enhancement Advisory Services LLC raised its stake in The Allstate Corporation (NYSE:ALL) by 38.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 202,796 shares of the insurance provider’s stock after acquiring an additional 56,271 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.08% of Allstate worth $42,950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its holdings in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after buying an additional 73 shares during the period. Clearstead Trust LLC lifted its position in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after buying an additional 152 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 126 shares during the period. Finally, Hilltop National Bank purchased a new stake in Allstate in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of NYSE ALL opened at $193.96 on Wednesday. The company has a 50 day moving average of $207.00 and a 200 day moving average of $203.38. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.89. The firm has a market cap of $50.76 billion, a P/E ratio of 6.27, a PEG ratio of 0.42 and a beta of 0.24.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping the consensus estimate of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.Allstate’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.91 EPS. As a group, research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, December 1st. Allstate’s dividend payout ratio is 12.95%.

Insider Buying and Selling

In related news, insider Suren Gupta sold 21,871 shares of Allstate stock in a transaction on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares in the company, valued at approximately $21,660,025.66. The trade was a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 48,400 shares of company stock valued at $10,313,256. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALL. BMO Capital Markets upped their price target on shares of Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. TD Cowen reissued a “hold” rating and issued a $231.00 target price (up previously from $224.00) on shares of Allstate in a research note on Monday, January 12th. JPMorgan Chase & Co. raised their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Cowen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, UBS Group upped their price objective on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.19.

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.