Financial Solutions Advisory Group Inc. Purchases New Shares in The Allstate Corporation $ALL

Financial Solutions Advisory Group Inc. purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,265 shares of the insurance provider’s stock, valued at approximately $470,000.

A number of other institutional investors have also recently added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new stake in shares of Allstate during the fourth quarter valued at about $25,000. Dorato Capital Management acquired a new position in shares of Allstate in the fourth quarter worth about $27,000. Navalign LLC purchased a new position in Allstate in the fourth quarter valued at about $27,000. Evolution Wealth Management Inc. grew its stake in Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Allstate during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $264.53 on Friday. The company has a market cap of $68.09 billion, a P/E ratio of 5.84, a PEG ratio of 0.45 and a beta of 0.16. The business has a 50 day moving average of $235.94 and a two-hundred day moving average of $218.05. 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 0.25.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.53 EPS. As a group, analysts anticipate that The Allstate Corporation will post 30.74 EPS for the current year.

Allstate Dividend Announcement

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 1.6%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is presently 9.53%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ALL shares. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Evercore set a $240.00 price target on shares of Allstate in a research report on Friday, July 10th. Cantor Fitzgerald raised their price target on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Citigroup lifted their price target on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Allstate from $263.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.80.

Insiders Place Their Bets

In other news, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by corporate insiders.

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.