Segment Wealth Management LLC Has $17.24 Million Stake in The Allstate Corporation $ALL

Key Points

• Segment Wealth Management LLC has reduced its stake in The Allstate Corporation by 1.7%, owning approximately 85,617 shares valued at $17.24 million.
• Several large investors, including Stock Yards Bank & Trust Co. and Ashton Thomas Securities LLC, have increased their positions in Allstate during the second quarter, reflecting investor confidence.
• Allstate reported earnings of $5.94 per share, significantly exceeding analysts' expectations, despite a revenue shortfall of $15.05 billion compared to estimates of $16.59 billion.

Segment Wealth Management LLC decreased its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,617 shares of the insurance provider's stock after selling 1,475 shares during the quarter. Allstate comprises approximately 1.1% of Segment Wealth Management LLC's investment portfolio, making the stock its 26th largest holding. Segment Wealth Management LLC's holdings in Allstate were worth $17,236,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Stock Yards Bank & Trust Co. grew its position in Allstate by 9.5% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 6,994 shares of the insurance provider's stock valued at $1,408,000 after purchasing an additional 605 shares during the period. Ameritas Advisory Services LLC grew its position in Allstate by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 10,484 shares of the insurance provider's stock valued at $2,111,000 after purchasing an additional 287 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Allstate by 5.2% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,316 shares of the insurance provider's stock valued at $3,687,000 after purchasing an additional 903 shares during the period. Ashton Thomas Securities LLC grew its position in Allstate by 18.7% in the 2nd quarter. Ashton Thomas Securities LLC now owns 2,827 shares of the insurance provider's stock valued at $569,000 after purchasing an additional 446 shares during the period. Finally, Hilltop National Bank acquired a new stake in Allstate in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Wolfe Research raised shares of Allstate to a "strong-buy" rating in a research report on Tuesday, September 16th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Evercore ISI set a $233.00 target price on shares of Allstate and gave the company an "in-line" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Two equities research 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, Allstate presently has a consensus rating of "Moderate Buy" and an average price target of $231.56.

Allstate Stock Up 0.4%

ALL opened at $210.92 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a market cap of $55.58 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.82 and a beta of 0.38. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.70. The company's 50-day moving average price is $204.72 and its two-hundred day moving average price is $201.06.

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

Allstate Announces Dividend

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

Allstate Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.