AE Wealth Management LLC Increases Position in The Allstate Corporation $ALL

AE Wealth Management LLC raised its holdings in shares of The Allstate Corporation (NYSE:ALL) by 64.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,054 shares of the insurance provider’s stock after purchasing an additional 2,766 shares during the period. AE Wealth Management LLC’s holdings in Allstate were worth $1,514,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Allstate in the second quarter worth $482,870,000. Swedbank AB boosted its stake in Allstate by 2,157.8% in the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after purchasing an additional 823,559 shares in the last quarter. Ameriprise Financial Inc. grew its position in Allstate by 52.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock valued at $279,062,000 after purchasing an additional 478,598 shares during the last quarter. Vanguard Group Inc. increased its stake in Allstate by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after purchasing an additional 435,145 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Allstate in the second quarter worth about $68,590,000. 76.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 21,871 shares of Allstate stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, the insider owned 100,646 shares in the company, valued at $21,660,025.66. This trade represents a 17.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 48,400 shares of company stock worth $10,313,256. Company insiders own 1.70% of the company’s stock.

Allstate Stock Up 0.9%

ALL stock opened at $200.79 on Tuesday. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.89. The business’s 50-day moving average is $204.33 and its two-hundred day moving average is $203.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $52.54 billion, a price-to-earnings ratio of 6.50, a P/E/G ratio of 0.43 and a beta of 0.24.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The business had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the company posted $3.91 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, December 1st. Allstate’s dividend payout ratio is currently 12.95%.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Wells Fargo & Company upped their price target on Allstate from $216.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Finally, Roth Mkm lifted their price objective on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.