Proficio Capital Partners LLC Acquires Shares of 2,014 The Allstate Corporation $ALL

Proficio Capital Partners LLC bought a new stake in The Allstate Corporation (NYSE:ALL) during the 2nd quarter, HoldingsChannel reports. The firm bought 2,014 shares of the insurance provider’s stock, valued at approximately $479,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its position in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Allstate in the 4th quarter worth about $231,000. WINTON GROUP Ltd purchased a new stake in Allstate during the 2nd quarter worth approximately $210,000. Treasurer of the State of North Carolina increased its stake in Allstate by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after buying an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Allstate by 20.1% during the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after acquiring an additional 6,412 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of a number of research analyst reports. Evercore set a $240.00 price target on Allstate in a research note on Friday, July 10th. Raymond James Financial reissued a “strong-buy” rating and issued a $315.00 price objective on shares of Allstate in a research note on Tuesday, August 11th. Piper Sandler raised their price objective on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Atlantic Securities set a $319.00 target price on shares of Allstate in a research note on Wednesday, July 15th. Finally, Morgan Stanley set a $265.00 target price on shares of Allstate in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Allstate presently has an average rating of “Hold” and a consensus target price of $263.90.

Allstate Price Performance

ALL stock opened at $259.51 on Thursday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $65.62 billion, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.15. The business has a 50 day simple moving average of $255.88 and a 200-day simple moving average of $228.15.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.94 earnings per share. Equities research analysts anticipate that The Allstate Corporation will post 34.78 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is currently 8.63%.

Insider Activity

In other Allstate news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of Allstate stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company’s stock.

Allstate 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.