EP Wealth Advisors LLC Boosts Stock Position in The Allstate Co. (NYSE:ALL)

EP Wealth Advisors LLC boosted its holdings in shares of The Allstate Co. (NYSE:ALL) by 2.4% during the second quarter, Holdings Channel.com reports. The firm owned 316,988 shares of the insurance provider’s stock after acquiring an additional 7,481 shares during the period. EP Wealth Advisors LLC’s holdings in Allstate were worth $50,610,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Allstate by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after buying an additional 47,038 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after purchasing an additional 31,789 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Allstate by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock valued at $130,680,000 after purchasing an additional 8,454 shares during the last quarter. AQR Capital Management LLC raised its position in Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after purchasing an additional 464,337 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Allstate by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock worth $123,574,000 after purchasing an additional 75,698 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALL. JPMorgan Chase & Co. increased their price target on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. The Goldman Sachs Group lifted their target price on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. BMO Capital Markets upped their price target on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Piper Sandler lifted their price objective on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Barclays began coverage on shares of Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.76.

Allstate Stock Down 0.2 %

NYSE:ALL opened at $188.36 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $49.71 billion, a P/E ratio of 41.58, a P/E/G ratio of 1.81 and a beta of 0.48. The company’s 50-day simple moving average is $181.32 and its 200-day simple moving average is $171.47. The Allstate Co. has a fifty-two week low of $109.01 and a fifty-two week high of $193.97.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned ($4.42) earnings per share. On average, equities analysts anticipate that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Announces Dividend

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

Insider Activity at Allstate

In other news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other Allstate news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 238,305 shares of company stock valued at $43,082,657 in the last three months. 1.80% of the stock is owned by insiders.

About Allstate

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.