Matrix Private Capital Group LLC Takes $513,000 Position in The Allstate Corporation $ALL

Matrix Private Capital Group LLC acquired a new position in The Allstate Corporation (NYSE:ALL) during the first quarter, Holdings Channel reports. The firm acquired 2,461 shares of the insurance provider’s stock, valued at approximately $513,000.

Several other large investors also recently added to or reduced their stakes in the business. MV Capital Management Inc. bought a new position in shares of Allstate in the 4th quarter worth $25,000. Dorato Capital Management bought a new stake in shares of Allstate during the 4th quarter worth $27,000. Navalign LLC purchased a new position in Allstate in the fourth quarter worth $27,000. Evolution Wealth Management Inc. grew its position in 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 acquiring an additional 140 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Allstate in the first quarter valued at $30,000. Institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other news, COO Mario Rizzo sold 18,578 shares of Allstate 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 completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ALL. Wells Fargo & Company lifted their price target on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Roth Capital reaffirmed a “buy” rating and issued a $275.00 price objective on shares of Allstate in a research note on Friday, July 17th. Barclays lifted their target price on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and boosted their price target for the stock from $244.00 to $264.00 in a research note on Monday, July 6th. Finally, UBS Group lowered shares of Allstate from a “buy” rating to a “neutral” rating and upped their price target for the company from $255.00 to $261.00 in a research report on Wednesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average price target of $254.80.

Allstate Stock Up 2.2%

Shares of Allstate stock opened at $260.16 on Friday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $260.65. The firm has a market cap of $66.97 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 0.45 and a beta of 0.16. The company has a 50-day moving average of $231.16 and a 200 day moving average of $216.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

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

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

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.