Kestra Advisory Services LLC Boosts Stock Position in The Allstate Corporation $ALL

Key Points

• Kestra Advisory Services increased its Allstate stake by 16.8% in Q1, adding 4,870 shares and bringing its total holding to 33,944 shares valued at about $7.0 million.
• Several analysts recently updated their views on Allstate, with target prices raised by firms including Morgan Stanley, JPMorgan, Mizuho, and HSBC. The stock currently carries a Moderate Buy consensus rating with a target price of $249.58.
• Allstate reported strong quarterly results, posting EPS of $10.65 versus expectations of $7.31 and revenue of $16.94 billion, while also ঘোষণাing a quarterly dividend of $1.08 per share payable October 1.

Kestra Advisory Services LLC boosted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 16.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,944 shares of the insurance provider's stock after purchasing an additional 4,870 shares during the quarter. Kestra Advisory Services LLC's holdings in Allstate were worth $7,038,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ALL. MV Capital Management Inc. acquired a new stake in Allstate in the fourth quarter valued at approximately $25,000. Dorato Capital Management acquired a new position in shares of Allstate during the fourth quarter worth $27,000. Navalign LLC purchased a new stake in shares of Allstate during the 4th quarter valued at $27,000. Evolution Wealth Management Inc. lifted its holdings in shares of 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 purchasing an additional 140 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in shares of Allstate in the 3rd quarter worth $31,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALL. Morgan Stanley boosted their target price on Allstate from $215.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Wall Street Zen cut Allstate from a "buy" rating to a "hold" rating in a research note on Sunday. JPMorgan Chase & Co. raised their price target on Allstate from $263.00 to $282.00 and gave the stock an "overweight" rating in a report on Tuesday. Mizuho boosted their price target on Allstate from $255.00 to $272.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Finally, HSBC downgraded shares of Allstate from a "buy" rating to a "hold" rating and upped their price objective for the company from $244.00 to $264.00 in a report on Monday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $249.58.

Insider Buying and Selling

In related news, Director Andrea Redmond sold 2,225 shares of the 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 transaction, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company's stock, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,353 shares of company stock valued at $4,851,560 over the last quarter. 1.55% of the stock is currently owned by company insiders.

Allstate Price Performance

NYSE ALL opened at $250.19 on Wednesday. The company has a market cap of $64.41 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 0.45 and a beta of 0.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The stock's fifty day moving average price is $225.57 and its 200 day moving average price is $213.66. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $257.67.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.53 EPS. As a group, equities research analysts forecast that The Allstate Corporation will post 29.99 earnings per share for the current year.

Allstate Dividend Announcement

The company 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 $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 presently 9.53%.

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.

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