The Allstate Co. (NYSE:ALL) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC cut its holdings in shares of The Allstate Co. (NYSE:ALL) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,815 shares of the insurance provider’s stock after selling 125 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Allstate were worth $1,567,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Premier Path Wealth Partners LLC grew its holdings in shares of Allstate by 2.5% during the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock valued at $392,000 after buying an additional 61 shares during the last quarter. Confluence Wealth Services Inc. grew its holdings in shares of Allstate by 0.9% during the first quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock valued at $1,306,000 after buying an additional 65 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Allstate by 1.9% during the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock valued at $541,000 after buying an additional 71 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Finally, Beacon Capital Management LLC grew its holdings in shares of Allstate by 8.2% during the second quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock valued at $166,000 after buying an additional 79 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALL. Wells Fargo & Company dropped their price objective on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Bank of America upped their price target on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their price target on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Piper Sandler upped their price target on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $191.94.

Allstate Price Performance

Shares of ALL stock traded up $2.60 during mid-day trading on Monday, hitting $183.11. 1,858,061 shares of the stock were exchanged, compared to its average volume of 1,573,832. The firm has a fifty day moving average of $168.89 and a 200 day moving average of $166.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 52-week low of $104.70 and a 52-week high of $184.30. The company has a market cap of $48.33 billion, a PE ratio of 40.42, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter in the prior year, the firm earned ($4.42) EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Research analysts anticipate that The Allstate Co. will post 13.64 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 2.01%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Insider Buying and Selling

In related news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Allstate news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Insiders sold a total of 201,938 shares of company stock worth $36,122,740 in the last 90 days. Insiders own 1.80% of the company’s stock.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.