Harbour Wealth Management Group Inc. Acquires New Holdings in The Allstate Corporation $ALL

Harbour Wealth Management Group Inc. bought a new position in The Allstate Corporation (NYSE:ALL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,555 shares of the insurance provider’s stock, valued at approximately $532,000.

Other large investors have also added to or reduced their stakes in the company. South Plains Financial Inc. lifted its holdings in shares of Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after buying an additional 49 shares during the period. Coldstream Capital Management Inc. increased its position in Allstate by 0.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after acquiring an additional 50 shares during the last quarter. Humankind Investments LLC increased its position in Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after acquiring an additional 51 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after acquiring an additional 52 shares during the period. Finally, Montag A & Associates Inc. boosted its position in 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 purchasing an additional 55 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ALL shares. Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays boosted their target price on shares of Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Finally, Wells Fargo & Company increased their price target on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.33.

Allstate Stock Down 0.4%

NYSE ALL opened at $220.72 on Friday. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $56.82 billion, a P/E ratio of 4.87, a price-to-earnings-growth ratio of 0.40 and a beta of 0.18. The stock’s 50-day moving average price is $215.78 and its 200-day moving average price is $209.15.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.53 EPS. On average, equities research analysts predict that The Allstate Corporation will post 29.43 earnings per share for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 2.0%. Allstate’s payout ratio is currently 9.53%.

Insiders Place Their Bets

In related news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,353 shares of company stock worth $4,851,560 over the last three months. 1.55% of the stock is currently owned by company insiders.

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.