Wealthfront Advisers LLC Has $8.60 Million Holdings in The Allstate Corporation $ALL

Wealthfront Advisers LLC increased its stake in shares of The Allstate Corporation (NYSE:ALL) by 9.0% during the third quarter, HoldingsChannel reports. The fund owned 40,046 shares of the insurance provider’s stock after buying an additional 3,297 shares during the period. Wealthfront Advisers LLC’s holdings in Allstate were worth $8,596,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ALL. Harbor Capital Advisors Inc. lifted its holdings in shares of Allstate by 79.7% in 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 in the last quarter. Barnes Dennig Private Wealth Management LLC grew its holdings in shares of Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after buying an additional 73 shares in the last quarter. Clearstead Trust LLC raised its position in Allstate by 3,800.0% in 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. Armstrong Advisory Group Inc. lifted its stake in Allstate by 72.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 67 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in 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 last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

ALL opened at $204.54 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75. The business has a 50 day moving average of $203.43 and a 200-day moving average of $203.96. The stock has a market cap of $53.52 billion, a price-to-earnings ratio of 5.36, a PEG ratio of 0.43 and a beta of 0.23.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the prior year, the business earned $7.67 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. The ex-dividend date is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio is 10.47%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALL. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a research report on Thursday, February 5th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Citigroup raised their price objective on Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a report on Tuesday. Roth Mkm lifted their target price on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $239.35.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety 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 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.