Phillips Wealth Planners LLC Invests $247,000 in The Allstate Co. (NYSE:ALL)

Phillips Wealth Planners LLC bought a new stake in shares of The Allstate Co. (NYSE:ALL) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,261 shares of the insurance provider’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SPC Financial Inc. increased its stake in shares of Allstate by 3.6% in the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after buying an additional 54 shares during the period. Lake Street Advisors Group LLC boosted its holdings in Allstate by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after acquiring an additional 54 shares during the last quarter. Abacus Planning Group Inc. increased its position in Allstate by 2.4% in the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after purchasing an additional 56 shares during the period. Premier Path Wealth Partners LLC raised its holdings in Allstate by 2.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after purchasing an additional 61 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in Allstate by 0.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,567 shares of the insurance provider’s stock worth $1,245,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Down 1.3 %

ALL opened at $184.18 on Friday. The stock has a market capitalization of $48.63 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.91 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 12 month low of $127.93 and a 12 month high of $198.79. The firm’s fifty day simple moving average is $188.87 and its 200 day simple moving average is $175.16.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 27.74% and a net margin of 6.77%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. As a group, research analysts anticipate that The Allstate Co. will post 14.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 0.00 % 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, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,530 shares of company stock valued at $34,967,665 in the last quarter. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ALL. UBS Group lifted their price target on shares of Allstate from $215.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley lifted their target price on shares of Allstate from $202.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Evercore ISI increased their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their price target on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Bank of America upped their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average price target of $207.19.

About Allstate

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.