Veratis Advisors Inc. Buys New Holdings in The Allstate Corporation $ALL

Veratis Advisors Inc. acquired a new position in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,212 shares of the insurance provider’s stock, valued at approximately $764,000. Allstate accounts for 0.5% of Veratis Advisors Inc.’s holdings, making the stock its 26th largest holding.

Several other institutional investors also recently modified their holdings of the stock. Gables Capital Management Inc. acquired a new stake in Allstate during the second quarter worth approximately $26,000. Allied Private Wealth LLC bought a new position in shares of Allstate during the 2nd quarter valued at about $29,000. Kelleher Financial Advisors purchased a new stake in shares of Allstate during the second quarter worth about $28,000. MV Capital Management Inc. bought a new position in shares of Allstate in the 4th quarter worth approximately $25,000. Finally, Navalign LLC purchased a new position in shares of Allstate during the fourth quarter valued at approximately $27,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 32,996 shares of the firm’s 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 completion of the sale, the insider directly owned 13,054 shares of the company’s stock, valued at $3,515,833.82. This trade represents a 71.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 91,446 shares of company stock worth $24,208,675. 1.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings upgraded Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and boosted their target price for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Barclays increased their price target on shares of Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $243.00 to $250.00 in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $265.26.

Allstate Price Performance

Shares of ALL opened at $260.35 on Tuesday. The firm has a 50-day simple moving average of $251.11 and a 200-day simple moving average of $225.53. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a market capitalization of $65.83 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 0.39 and a beta of 0.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The firm 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%.Allstate’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.94 EPS. On average, equities research analysts anticipate that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 dividend 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.