RMG Wealth Management LLC Purchases Shares of 1,269 The Allstate Corporation $ALL

Key Points

• RMG Wealth Management LLC acquired 1,269 shares of The Allstate Corporation, valued at approximately $246,000, during the second quarter.
• Analysts have upgraded Allstate's stock with recommendations ranging from a "buy" to a "hold" rating, and the average price target is set at $231.56.
• Allstate announced a quarterly dividend of $1.00 per share, representing an annualized yield of 1.9% and a dividend payout ratio of 18.81%.

RMG Wealth Management LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,269 shares of the insurance provider's stock, valued at approximately $246,000.

Several other large investors have also recently made changes to their positions in the company. Arlington Trust Co LLC boosted its stake in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after buying an additional 89 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Allstate during the 1st quarter worth approximately $28,000. Hilltop National Bank bought a new position in shares of Allstate during the 2nd quarter valued at approximately $34,000. Meeder Asset Management Inc. grew its holdings in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in Allstate in the first quarter worth $43,000. 76.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a "buy (b)" rating on shares of Allstate in a research note on Saturday, September 27th. Morgan Stanley raised their price objective on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Citigroup raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $231.56.

Allstate Stock Down 1.0%

Shares of NYSE ALL opened at $208.69 on Tuesday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.70. The firm has a 50-day simple moving average of $205.06 and a two-hundred day simple moving average of $200.98. The company has a market cap of $54.99 billion, a P/E ratio of 9.81, a PEG ratio of 0.83 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were paid a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate's dividend payout ratio (DPR) is presently 18.81%.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

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