L & S Advisors Inc Increases Holdings in The Allstate Co. (NYSE:ALL)

L & S Advisors Inc raised its stake in The Allstate Co. (NYSE:ALL) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,526 shares of the insurance provider’s stock after purchasing an additional 1,308 shares during the quarter. L & S Advisors Inc’s holdings in Allstate were worth $2,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Accretive Wealth Partners LLC acquired a new stake in Allstate in the fourth quarter valued at approximately $201,000. 9258 Wealth Management LLC boosted its position in Allstate by 10.9% in the 4th quarter. 9258 Wealth Management LLC now owns 10,034 shares of the insurance provider’s stock valued at $1,405,000 after buying an additional 987 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Allstate during the fourth quarter valued at about $101,000. Independent Advisor Alliance increased its position in shares of Allstate by 10.6% during the fourth quarter. Independent Advisor Alliance now owns 4,933 shares of the insurance provider’s stock worth $691,000 after acquiring an additional 471 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of Allstate by 1.3% in the fourth quarter. Brown Advisory Inc. now owns 29,678 shares of the insurance provider’s stock worth $4,154,000 after acquiring an additional 367 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on 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 completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,938 shares of company stock worth $36,122,740. 1.80% of the stock is owned by company insiders.

Allstate Stock Performance

Shares of ALL opened at $190.56 on Tuesday. The company has a 50-day moving average of $177.05 and a two-hundred day moving average of $169.39. The stock has a market cap of $50.29 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Co. has a one year low of $108.16 and a one year high of $191.33.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion during 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%. Allstate’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.42) earnings per share. On average, equities research analysts expect that The Allstate Co. will post 15.16 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is 81.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Piper Sandler increased their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. TD Cowen lifted their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average price target of $192.76.

Allstate Profile

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.