Nemes Rush Group LLC Boosts Position in The Allstate Co. (NYSE:ALL)

Nemes Rush Group LLC grew its holdings in shares of The Allstate Co. (NYSE:ALL) by 1.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 54,553 shares of the insurance provider’s stock after purchasing an additional 787 shares during the period. Nemes Rush Group LLC’s holdings in Allstate were worth $8,710,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ALL. Rise Advisors LLC purchased a new stake in Allstate during the 1st quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate during the 1st quarter valued at about $26,000. Versant Capital Management Inc boosted its holdings in Allstate by 70.9% in 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. Family Firm Inc. acquired a new stake in Allstate in the second quarter valued at approximately $38,000. Finally, MCF Advisors LLC raised its stake in shares of Allstate by 33.9% during 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 period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Down 0.2 %

NYSE:ALL opened at $188.36 on Friday. 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 stock has a 50 day moving average of $181.32 and a 200-day moving average of $171.40. The firm has a market capitalization of $49.71 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 52 week low of $109.01 and a 52 week high of $193.97.

Allstate (NYSE:ALL) last issued its earnings results 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. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the company earned ($4.42) earnings per share. Analysts predict that The Allstate Co. will post 15.2 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. TD Cowen lifted their target price on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price target on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. BMO Capital Markets lifted their price objective on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group increased their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $192.76.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 238,305 shares of company stock worth $43,082,657. Insiders own 1.80% of the company’s stock.

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.