The Allstate Corporation $ALL Shares Acquired by Capital Wealth Planning LLC

Key Points

• Capital Wealth Planning LLC boosted its Allstate stake by 187.1% in the third quarter, adding 13,618 shares to hold 20,895 shares worth about $4.485 million per its SEC filing.
• Strong quarterly results: Allstate reported $14.31 EPS versus $8.72 expected, $17.35 billion in revenue and a 39.2% ROE, while analysts carry a consensus "Moderate Buy" rating with a $238.88 target price.
• Dividend and valuation: Allstate raised its quarterly dividend to $1.08 ($4.32 annual, ~2.1% yield) and trades at roughly a 5.4 P/E with a market cap near $53.5 billion.

Capital Wealth Planning LLC boosted its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 187.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,895 shares of the insurance provider's stock after purchasing an additional 13,618 shares during the quarter. Capital Wealth Planning LLC's holdings in Allstate were worth $4,485,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after buying an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Allstate in the fourth quarter valued at $231,000. AE Wealth Management LLC boosted its stake in Allstate by 20.8% in the second quarter. AE Wealth Management LLC now owns 4,288 shares of the insurance provider's stock valued at $863,000 after acquiring an additional 739 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Allstate in the second quarter valued at $640,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Allstate by 4.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,972 shares of the insurance provider's stock worth $8,047,000 after purchasing an additional 1,753 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ALL. Keefe, Bruyette & Woods lifted their target price on Allstate from $254.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 10th. Zacks Research upgraded Allstate from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Evercore set a $225.00 price target on Allstate in a research report on Wednesday, January 7th. Citigroup boosted their price objective on Allstate from $216.00 to $221.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. increased their price objective on Allstate from $260.00 to $263.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.88.

Allstate Stock Performance

NYSE ALL opened at $206.22 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The business's 50-day moving average price is $204.52 and its 200 day moving average price is $204.69. The firm has a market cap of $53.52 billion, a P/E ratio of 5.40, a P/E/G ratio of 0.42 and a beta of 0.23.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same period in the prior year, the business earned $7.67 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. This is a boost from Allstate's previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate's dividend payout ratio (DPR) is currently 11.31%.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of the business's stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider directly owned 100,646 shares of the company's stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Allstate 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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