United Capital Financial Advisors LLC Buys Shares of 10,833 The Allstate Corporation $ALL

Key Points

• United Capital Financial Advisors purchased 10,833 Allstate shares worth approximately $2.58 million, while institutional investors collectively own 76.47% of the insurer.
• Allstate reported strong quarterly results, with earnings of $8.99 per share versus the $6.06 consensus estimate and revenue of $18.60 billion, up 11.8% year over year.
• Allstate shares opened at $261.17, near the analyst consensus target of $263.90. The company also declared a quarterly dividend of $1.08, equivalent to a 1.7% annualized yield.

United Capital Financial Advisors LLC bought a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,833 shares of the insurance provider's stock, valued at approximately $2,578,000.

Other institutional investors also recently modified their holdings of the company. Dearborn Partners LLC bought a new position in shares of Allstate in the 2nd quarter valued at $444,000. Bank OZK bought a new stake in Allstate during the 2nd quarter worth $1,455,000. Caitlin John LLC bought a new stake in Allstate during the 2nd quarter worth $377,000. Equitable Holdings Inc. acquired a new position in Allstate in the 2nd quarter worth about $2,187,000. Finally, Centaurus Financial Inc. acquired a new position in Allstate in the 2nd quarter worth about $125,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the business's 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. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John E. Dugenske sold 32,996 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 91,446 shares of company stock valued at $24,208,675. 1.55% of the stock is currently owned by company insiders.

Allstate Stock Up 1.4%

Shares of ALL opened at $261.17 on Friday. The stock's 50-day moving average price is $254.14 and its two-hundred day moving average price is $226.81. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The company has a market capitalization of $66.04 billion, a PE ratio of 5.22, a PEG ratio of 0.39 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share 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 company had revenue of $18.60 billion during the quarter, compared to analysts' expectations of $15.46 billion. During the same quarter in the prior year, the firm posted $5.94 earnings per share. The business's quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts anticipate that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate's dividend payout ratio is presently 8.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALL. Raymond James Financial reissued a "strong-buy" rating and set a $315.00 price target on shares of Allstate in a research note on Tuesday, August 11th. Evercore set a $240.00 price objective on Allstate in a research note on Friday, July 10th. Piper Sandler raised their price objective on shares of Allstate from $268.00 to $300.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Zacks Research upgraded shares of Allstate from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Finally, Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $263.90.

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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