NewEdge Wealth LLC Increases Stake in The Allstate Corporation $ALL

NewEdge Wealth LLC lifted its holdings in shares of The Allstate Corporation (NYSE:ALL) by 44.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,103 shares of the insurance provider’s stock after purchasing an additional 2,499 shares during the period. NewEdge Wealth LLC’s holdings in Allstate were worth $1,687,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Dorato Capital Management purchased a new stake in Allstate during the fourth quarter valued at about $27,000. Princeton Global Asset Management LLC increased its holdings in shares of Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after buying an additional 76 shares during the period. Palisade Asset Management LLC bought a new stake in shares of Allstate in the 3rd quarter valued at about $31,000. South Plains Financial Inc. lifted its stake in shares of Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 49 shares during the last quarter. Finally, Garner Asset Management Corp purchased a new stake in Allstate during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALL. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Citigroup increased their price objective on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Finally, Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.67.

Allstate Trading Down 0.1%

NYSE ALL opened at $215.35 on Thursday. The stock has a market cap of $55.44 billion, a P/E ratio of 4.75, a price-to-earnings-growth ratio of 0.39 and a beta of 0.21. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $222.23. The stock has a 50 day simple moving average of $211.07 and a two-hundred day simple moving average of $206.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm 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 revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.53 earnings per share. On average, analysts forecast that The Allstate Corporation will post 28.82 earnings per share for the current year.

Insiders Place Their Bets

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.55% of the stock is currently owned by company 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.