Waverly Advisors LLC Has $3.78 Million Stock Holdings in The Allstate Corporation $ALL

Key Points

• Waverly Advisors reduced its Allstate holdings by 30.5% in the first quarter, selling 8,011 shares and retaining 18,238 shares valued at approximately $3.78 million. Institutional investors and hedge funds collectively own 76.47% of Allstate.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $254.80. JPMorgan recently raised its target to $282, while Atlantic Securities set a $319 target.
• Allstate’s latest quarterly results exceeded expectations, with earnings per share of $10.65 versus the $7.31 consensus and revenue of $16.94 billion. The company also declared a quarterly dividend of $1.08, representing an annualized yield of approximately 1.6%.

Waverly Advisors LLC decreased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 30.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,238 shares of the insurance provider's stock after selling 8,011 shares during the period. Waverly Advisors LLC's holdings in Allstate were worth $3,781,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new position in shares of Allstate in the 4th quarter worth approximately $25,000. Dorato Capital Management acquired a new stake in Allstate in the 4th quarter valued at $27,000. Navalign LLC acquired a new stake in Allstate in the 4th quarter valued at $27,000. Evolution Wealth Management Inc. grew its position in Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 140 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Allstate during the first quarter worth $30,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALL shares. JPMorgan Chase & Co. lifted their price objective on Allstate from $263.00 to $282.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. Piper Sandler reissued an "overweight" rating on shares of Allstate in a report on Thursday, May 28th. Atlantic Securities set a $319.00 price target on shares of Allstate in a research report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Allstate in a research note on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.80.

Insider Buying and Selling at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% 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 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

Allstate Price Performance

Shares of ALL stock opened at $274.16 on Thursday. The stock's fifty day moving average is $233.97 and its 200-day moving average is $217.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $70.58 billion, a PE ratio of 6.05, a PEG ratio of 0.47 and a beta of 0.16. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the company posted $3.53 earnings per share. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that The Allstate Corporation will post 30.69 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, August 31st. Allstate's dividend payout ratio (DPR) is presently 9.53%.

About Allstate

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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