Estate Counselors LLC Invests $1.76 Million in The Allstate Corporation $ALL

Estate Counselors LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 8,477 shares of the insurance provider’s stock, valued at approximately $1,758,000.

A number of other hedge funds also recently made changes to their positions in the stock. MV Capital Management Inc. bought a new stake in Allstate during the 4th quarter worth approximately $25,000. Navalign LLC purchased a new position in Allstate during the fourth quarter valued at approximately $27,000. Dorato Capital Management bought a new position in shares of Allstate in the fourth quarter worth approximately $27,000. Evolution Wealth Management Inc. boosted its position in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Finally, Palisade Asset Management LLC purchased a new stake in shares of Allstate in the third quarter worth $31,000. 76.47% of the stock is currently owned by institutional investors.

Insider Transactions at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last ninety days. Corporate insiders own 1.55% of the company’s stock.

Allstate Trading Up 0.5%

Shares of Allstate stock opened at $261.37 on Tuesday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $262.24. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $231.96 and a 200-day moving average price of $216.45. The firm has a market cap of $67.28 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 0.45 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the business earned $3.53 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate that The Allstate Corporation will post 30.51 EPS for the current fiscal year.

Allstate Announces Dividend

The company 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 $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s payout ratio is presently 9.53%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research report on Wednesday, July 15th. Wells Fargo & Company upped their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Citigroup increased their price target on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $254.80.

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.