The Allstate Co. (NYSE:ALL) Shares Bought by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC boosted its position in shares of The Allstate Co. (NYSE:ALL) by 12.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,956 shares of the insurance provider’s stock after acquiring an additional 444 shares during the period. Avidian Wealth Solutions LLC’s holdings in Allstate were worth $554,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Allstate in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Allstate in the 4th quarter valued at $36,000. Venturi Wealth Management LLC raised its position in Allstate by 152.7% in the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 168 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Allstate in the 4th quarter valued at $43,000. Finally, First Command Advisory Services Inc. purchased a new stake in Allstate in the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALL. The Goldman Sachs Group upped their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. Evercore ISI upped their price objective on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, Piper Sandler increased their price target on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.18.

Allstate Stock Up 0.6 %

Shares of ALL stock traded up $1.09 during mid-day trading on Monday, reaching $169.27. 490,134 shares of the company were exchanged, compared to its average volume of 1,672,219. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $44.67 billion, a P/E ratio of 37.41, a P/E/G ratio of 0.39 and a beta of 0.51. The business’s 50 day simple moving average is $166.06 and its 200 day simple moving average is $151.27.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. During the same quarter in the previous year, the company posted ($1.30) earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that The Allstate Co. will post 14.57 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.17%. Allstate’s payout ratio is 81.24%.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.