Frank Rimerman Advisors LLC Takes Position in The Allstate Co. (NYSE:ALL)

Frank Rimerman Advisors LLC purchased a new position in shares of The Allstate Co. (NYSE:ALL) in the second quarter, HoldingsChannel.com reports. The fund purchased 2,279 shares of the insurance provider’s stock, valued at approximately $364,000.

Several other large investors have also bought and sold shares of the business. Premier Path Wealth Partners LLC raised its position in shares of Allstate by 2.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock valued at $392,000 after acquiring an additional 61 shares during the last quarter. Versant Capital Management Inc increased 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 increased its stake in shares of Allstate by 8.2% in the 2nd quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock valued at $166,000 after acquiring an additional 79 shares during the last quarter. Lodestone Wealth Management LLC increased its stake 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 in the last quarter. Finally, MCF Advisors LLC raised its stake in Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Allstate news, insider Suren Gupta sold 45,775 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The disclosure for this sale can be found here. In the last three months, insiders sold 238,305 shares of company stock worth $43,082,657. 1.80% of the stock is owned by company insiders.

Allstate Price Performance

NYSE:ALL opened at $191.82 on Wednesday. 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 fifty day simple moving average of $180.42 and a 200 day simple moving average of $170.86. The Allstate Co. has a 1-year low of $109.01 and a 1-year high of $193.97. The stock has a market capitalization of $50.62 billion, a PE ratio of 42.34, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion for 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 revenue for the quarter was up 12.4% compared to the same quarter last year. On average, research analysts expect that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed 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 is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.92%. Allstate’s payout ratio is 81.24%.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Roth Mkm reissued a “buy” rating and set a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. Bank of America boosted their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, TD Cowen upped their target price on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.