Moran Wealth Management LLC Makes New $530,000 Investment in The Allstate Corporation $ALL

by · The Markets Daily

Moran Wealth Management LLC bought a new position in shares of The Allstate Corporation (NYSE:ALL – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,467 shares of the insurance provider’s stock, valued at approximately $530,000.

A number of other institutional investors also recently modified their holdings of ALL. Arlington Trust Co LLC increased its position in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 89 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Clearstead Trust LLC increased its holdings in shares of Allstate by 3,800.0% during the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after buying an additional 126 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Allstate in the second quarter valued at approximately $34,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 48,400 shares of company stock worth $10,313,256 over the last quarter. Insiders own 1.70% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $212.34 on Friday. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The stock’s 50-day simple moving average is $207.34 and its 200 day simple moving average is $203.32. The firm has a market capitalization of $55.56 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24.

Allstate (NYSE:ALL – Get Free Report) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The firm had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the prior year, the business earned $3.91 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a $1.00 dividend. The ex-dividend date was Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate’s dividend payout ratio (DPR) is currently 12.95%.

Wall Street Analyst Weigh In

ALL has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Allstate from $250.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. upped their target price on Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Evercore ISI set a $225.00 price target on Allstate in a research report on Wednesday. Roth Capital boosted their price target on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $215.00 price objective (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $236.00.

Read Our Latest Analysis on Allstate

About Allstate

(Free Report)

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.

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