NewEdge Advisors LLC Purchases 4,432 Shares of The Allstate Corporation $ALL

NewEdge Advisors LLC lifted its position in shares of The Allstate Corporation (NYSE:ALL) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,693 shares of the insurance provider’s stock after buying an additional 4,432 shares during the quarter. NewEdge Advisors LLC’s holdings in Allstate were worth $8,023,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MV Capital Management Inc. purchased a new stake in Allstate in the fourth quarter worth about $25,000. Navalign LLC bought a new position in shares of Allstate in the 4th quarter worth $27,000. Evolution Wealth Management Inc. raised its position in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Allstate during the 1st quarter worth $30,000. Finally, Palisade Asset Management LLC bought a new stake in Allstate during the third quarter valued at about $31,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ALL. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $243.00 to $250.00 in a report on Friday. The Goldman Sachs Group reissued a “neutral” rating and issued a $280.00 price objective on shares of Allstate in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Finally, Roth Capital set a $300.00 price target on Allstate in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $259.50.

Allstate Trading Up 0.0%

NYSE ALL opened at $267.02 on Monday. The company has a fifty day simple moving average of $241.52 and a two-hundred day simple moving average of $220.65. The stock has a market cap of $68.74 billion, a P/E ratio of 5.33, a P/E/G ratio of 0.45 and a beta of 0.16. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The firm had revenue of $15.43 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.94 earnings per share. On average, analysts forecast that The Allstate Corporation will post 31.4 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is presently 8.63%.

Insider Buying and Selling at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.