Sequoia Financial Advisors LLC Grows Position in The Allstate Corporation $ALL

Sequoia Financial Advisors LLC increased its stake in The Allstate Corporation (NYSE:ALL) by 56.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,857 shares of the insurance provider’s stock after purchasing an additional 10,087 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Allstate were worth $6,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Global Advisors LLC acquired a new position in shares of Allstate during the 2nd quarter worth approximately $11,680,000. OMERS ADMINISTRATION Corp purchased a new position in Allstate during the second quarter worth about $6,861,000. Elevation Point Wealth Partners LLC boosted its position in shares of Allstate by 130.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock worth $4,016,000 after acquiring an additional 10,936 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after purchasing an additional 596,321 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in Allstate by 69.2% during the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock valued at $13,116,000 after acquiring an additional 25,764 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of NYSE ALL opened at $253.77 on Friday. The firm’s 50-day simple moving average is $257.92 and its 200 day simple moving average is $230.39. The stock has a market cap of $64.17 billion, a P/E ratio of 5.07, a P/E/G ratio of 0.57 and a beta of 0.15. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two 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 0.24.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $5.94 earnings per share. Equities analysts expect that The Allstate Corporation will post 35.5 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio (DPR) is 8.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ALL shares. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $243.00 to $250.00 in a research note on Friday, August 7th. UBS Group boosted their target price on shares of Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Piper Sandler boosted their price target on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, Argus set a $238.00 price objective on shares of Allstate in a research note on Friday, August 28th. Four analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $263.90.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Dugenske sold 32,996 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company’s stock.

About Allstate

Allstate Corporation is an insurance and protection-services company headquartered in Northbrook, Illinois. Through its Allstate and National General brands, the company primarily provides property and casualty insurance to individuals and businesses in the United States.

Its products include automobile, homeowners, renters, condominium, landlord, motorcycle and recreational-vehicle insurance, along with other personal and commercial coverage. Allstate also offers roadside assistance, identity protection and related protection services through its various businesses and distribution channels, including agents, brokers and digital platforms.

Allstate’s roots date to 1931, when the Allstate Insurance Company was established as a subsidiary of Sears, Roebuck & Co The company became independent from Sears in the 1990s.