9,450 Shares in The Allstate Corporation $ALL Purchased by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services LLC acquired 9,450 Allstate shares worth approximately $2.47 million during the second quarter. Institutional investors and hedge funds collectively own 76.47% of Allstate’s stock.
• Allstate insiders sold 92,996 shares worth about $24.54 million during the latest quarter, including a $14.87 million sale by COO Mario Rizzo.
• Allstate reported quarterly EPS of $8.99, beating estimates of $6.06, while revenue rose 11.8% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $265.53, and the company declared a quarterly dividend of $1.08 per share.

Diversify Advisory Services LLC acquired a new stake in The Allstate Corporation (NYSE:ALL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,450 shares of the insurance provider's stock, valued at approximately $2,469,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. Brighton Jones LLC grew its position in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Allstate during the 4th quarter worth approximately $231,000. WINTON GROUP Ltd acquired a new position in shares of Allstate during the 2nd quarter worth approximately $210,000. Treasurer of the State of North Carolina raised its position in shares of Allstate by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock worth $24,816,000 after purchasing an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in Allstate by 20.1% in the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock valued at $7,713,000 after buying an additional 6,412 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Insider Activity at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 92,996 shares of company stock worth $24,543,894. 1.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on ALL. Citigroup cut Allstate from a "neutral" rating to a "sell" rating and increased their target price for the company from $226.00 to $240.00 in a report on Tuesday, August 11th. Atlantic Securities set a $319.00 price target on Allstate in a report on Wednesday, July 15th. Raymond James Financial restated a "strong-buy" rating and issued a $315.00 price objective on shares of Allstate in a research report on Tuesday, August 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $280.00 price objective on shares of Allstate in a research note on Friday, August 7th. Finally, Barclays lifted their price objective on Allstate from $213.00 to $226.00 and gave the stock an "underweight" rating in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $265.53.

Allstate Price Performance

Shares of NYSE:ALL opened at $261.27 on Wednesday. The company has a market cap of $66.06 billion, a P/E ratio of 5.22, a P/E/G ratio of 0.41 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The business has a fifty day simple moving average of $248.26 and a 200-day simple moving average of $223.92.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm had revenue of $15.43 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same period in the prior year, the firm posted $5.94 earnings per share. The business's quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts forecast that The Allstate Corporation will post 34.2 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate's dividend payout ratio is currently 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.

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