Midland Wealth Advisors LLC Purchases 911 Shares of The Allstate Co. (NYSE:ALL)

Midland Wealth Advisors LLC raised its position in The Allstate Co. (NYSE:ALL) by 34.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,535 shares of the insurance provider’s stock after purchasing an additional 911 shares during the period. Midland Wealth Advisors LLC’s holdings in Allstate were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in Allstate in the first quarter valued at about $25,000. Rise Advisors LLC acquired a new stake in Allstate during the first quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate in the 1st quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of Allstate in the 4th quarter worth approximately $25,000. Finally, Versant Capital Management Inc raised its holdings in shares of Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 0.1 %

NYSE:ALL opened at $189.20 on Wednesday. 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 12-month low of $105.85 and a 12-month high of $191.33. The stock’s fifty day simple moving average is $172.11 and its 200-day simple moving average is $167.68. The firm has a market capitalization of $49.93 billion, a P/E ratio of 41.77, a P/E/G ratio of 1.78 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned ($4.42) earnings per share. Equities research analysts expect that The Allstate Co. will post 15.14 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is presently 81.24%.

Insiders Place Their Bets

In other news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,938 shares of company stock worth $36,122,740. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. TD Cowen increased their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler lifted their price objective on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods increased their target price on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.88.

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.