Principle Wealth Partners LLC Makes New $5.99 Million Investment in The Allstate Corporation $ALL

Principle Wealth Partners LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,159 shares of the insurance provider’s stock, valued at approximately $5,986,000.

A number of other institutional investors have also recently made changes to their positions in the business. Coldstream Capital Management Inc. increased its stake in Allstate by 0.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after buying an additional 50 shares during the period. Compound Planning Inc. lifted its holdings in Allstate by 1.6% during the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock worth $669,000 after buying an additional 50 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after buying an additional 52 shares during the period. Root Financial Partners LLC boosted its position in Allstate by 4.7% in the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock valued at $243,000 after buying an additional 53 shares during the period. Finally, Montag A & Associates Inc. grew its stake in shares of Allstate by 10.2% in the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Cantor Fitzgerald upped their price objective on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded Allstate from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. Piper Sandler boosted their target price on Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. HSBC downgraded Allstate from a “buy” rating to a “hold” rating and upped their price target for the stock from $244.00 to $264.00 in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods increased their price target on Allstate from $242.00 to $255.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $265.53.

Insiders Place Their Bets

In related 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 value of $451,474.75. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s 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 sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 92,996 shares of company stock worth $24,543,894 in the last three months. 1.55% of the stock is owned by company insiders.

Allstate Price Performance

Allstate stock opened at $257.88 on Tuesday. The stock has a market cap of $65.21 billion, a P/E ratio of 5.15, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16. The company has a fifty day simple moving average of $247.38 and a 200-day simple moving average of $223.47. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. The firm had revenue of $15.43 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%.Allstate’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.94 earnings per share. Equities analysts expect that The Allstate Corporation will post 33.92 EPS for the current fiscal year.

Allstate Dividend Announcement

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

About Allstate

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.