Summit Financial LLC Invests $360,000 in The Allstate Co. (NYSE:ALL)

Summit Financial LLC purchased a new position in shares of The Allstate Co. (NYSE:ALL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,243 shares of the insurance provider’s stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Premier Path Wealth Partners LLC lifted its position in Allstate by 2.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after acquiring an additional 61 shares during the period. Versant Capital Management Inc lifted its position in Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the period. Beacon Capital Management LLC lifted its position in Allstate by 8.2% during the 2nd quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock worth $166,000 after acquiring an additional 79 shares during the period. Lodestone Wealth Management LLC lifted its position in Allstate by 4.8% during the 2nd quarter. Lodestone Wealth Management LLC now owns 1,738 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 80 shares during the period. Finally, St. Johns Investment Management Company LLC lifted its position in Allstate by 2.2% during the 4th quarter. St. Johns Investment Management Company LLC now owns 3,955 shares of the insurance provider’s stock worth $554,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity

In other news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The disclosure for this sale can be found here. Insiders sold 201,938 shares of company stock worth $36,122,740 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

ALL has been the subject of a number of research reports. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. TD Cowen boosted their price objective on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets boosted their price objective on Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.88.

Allstate Price Performance

NYSE:ALL opened at $189.20 on Wednesday. The Allstate Co. has a 12 month low of $105.85 and a 12 month high of $191.33. The stock has a 50 day moving average of $172.11 and a two-hundred day moving average of $167.68. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm has a market cap of $49.93 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 1.78 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same period in the previous year, the business earned ($4.42) EPS. Allstate’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts expect that The Allstate Co. will post 15.14 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.92 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

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.