Prudential PLC Increases Position in The Allstate Co. (NYSE:ALL)

Prudential PLC increased its stake in shares of The Allstate Co. (NYSE:ALL) by 46.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,285 shares of the insurance provider’s stock after buying an additional 1,363 shares during the quarter. Prudential PLC’s holdings in Allstate were worth $684,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Premier Path Wealth Partners LLC boosted its holdings in Allstate by 2.5% in the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 61 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Beacon Capital Management LLC boosted its holdings in Allstate by 8.2% in the second quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock valued at $166,000 after purchasing an additional 79 shares during the last quarter. Lodestone Wealth Management LLC boosted its holdings in Allstate by 4.8% in the second quarter. Lodestone Wealth Management LLC now owns 1,738 shares of the insurance provider’s stock valued at $277,000 after purchasing an additional 80 shares during the last quarter. Finally, MCF Advisors LLC boosted its holdings in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $15,880,915.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Thomas J. Wilson sold 90,000 shares of the 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 approximately $15,880,915.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert Toohey sold 16,682 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,938 shares of company stock worth $36,122,740. Insiders own 1.80% of the company’s stock.

Allstate Stock Up 0.9 %

ALL stock opened at $186.10 on Friday. The company has a market cap of $49.11 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 1.75 and a beta of 0.48. 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 Allstate Co. has a 12 month low of $108.12 and a 12 month high of $191.33. The firm has a 50-day moving average of $175.83 and a two-hundred day moving average of $168.85.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. Allstate’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($4.42) EPS. As a group, analysts forecast that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued 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 yield of 1.98%. Allstate’s payout ratio is 81.24%.

Analyst Upgrades and Downgrades

ALL has been the topic of several recent research reports. Barclays initiated coverage on shares of Allstate in a report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price target on the stock. Morgan Stanley decreased their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. TD Cowen upped their price objective on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $192.76.

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.