Denali Advisors LLC Raises Stock Position in The Allstate Corporation $ALL

Denali Advisors LLC raised its holdings in shares of The Allstate Corporation (NYSE:ALL) by 134.1% during the second quarter, Holdings Channel.com reports. The fund owned 5,411 shares of the insurance provider’s stock after buying an additional 3,100 shares during the period. Denali Advisors LLC’s holdings in Allstate were worth $1,287,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MV Capital Management Inc. purchased a new stake in shares of Allstate during the fourth quarter worth about $25,000. Gables Capital Management Inc. purchased a new position in Allstate in the 2nd quarter worth approximately $26,000. Navalign LLC purchased a new position in Allstate in the 4th quarter worth approximately $27,000. Kelleher Financial Advisors bought a new position in Allstate in the 2nd quarter worth approximately $28,000. Finally, Evolution Wealth Management Inc. grew its holdings in Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup downgraded shares of Allstate from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $226.00 to $240.00 in a report on Tuesday, August 11th. Zacks Research upgraded shares of Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $250.00 price target (down from $255.00) on shares of Allstate in a research note on Thursday, August 20th. Cantor Fitzgerald raised their price objective on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised Allstate from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $265.26.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 91,446 shares of company stock worth $24,208,675. Insiders own 1.55% of the company’s stock.

Allstate Price Performance

NYSE:ALL opened at $257.72 on Wednesday. The firm has a market capitalization of $65.17 billion, a price-to-earnings ratio of 5.15, a PEG ratio of 0.40 and a beta of 0.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $251.80 and a 200-day simple moving average of $225.88. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. The company 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 quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.94 EPS. Equities analysts forecast that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is 8.63%.

Allstate Company 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.