Range Financial Group LLC bought a new stake in shares of The Allstate Co. (NYSE:ALL – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,118 shares of the insurance provider’s stock, valued at approximately $1,678,000. Allstate accounts for approximately 1.1% of Range Financial Group LLC’s holdings, making the stock its 20th largest position.
Several other large investors have also recently bought and sold shares of the stock. Dynamic Advisor Solutions LLC increased its stake in Allstate by 1.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,439 shares of the insurance provider’s stock valued at $615,000 after buying an additional 72 shares during the period. Mission Wealth Management LP increased its stake in Allstate by 1.0% during the 1st quarter. Mission Wealth Management LP now owns 7,837 shares of the insurance provider’s stock valued at $1,085,000 after buying an additional 79 shares during the period. Abbrea Capital LLC increased its stake in Allstate by 1.8% during the 1st quarter. Abbrea Capital LLC now owns 4,474 shares of the insurance provider’s stock valued at $623,000 after buying an additional 80 shares during the period. Community Bank & Trust Waco Texas increased its stake in Allstate by 1.3% during the 1st quarter. Community Bank & Trust Waco Texas now owns 6,354 shares of the insurance provider’s stock valued at $880,000 after buying an additional 82 shares during the period. Finally, Prospera Financial Services Inc increased its stake in Allstate by 0.4% during the 1st quarter. Prospera Financial Services Inc now owns 25,782 shares of the insurance provider’s stock valued at $3,571,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 76.17% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on ALL shares. Barclays lowered their target price on shares of Allstate from $123.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, August 8th. Wells Fargo & Company reduced their price objective on shares of Allstate from $116.00 to $110.00 and set an “underweight” rating for the company in a research report on Thursday, July 21st. Citigroup assumed coverage on shares of Allstate in a research report on Monday, May 23rd. They set a “buy” rating and a $159.00 price objective for the company. Evercore ISI raised their price objective on shares of Allstate to $126.00 in a research report on Tuesday, August 9th. Finally, Raymond James reduced their price objective on shares of Allstate from $165.00 to $155.00 in a research report on Thursday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.00.
Allstate Stock Performance
Allstate (NYSE:ALL – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.50. The business had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.16 billion. Allstate had a net margin of 1.99% and a return on equity of 7.53%. During the same period in the prior year, the firm earned $3.79 earnings per share. On average, equities research analysts expect that The Allstate Co. will post 4.79 earnings per share for the current year.
Allstate Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Tuesday, August 30th. Allstate’s dividend payout ratio (DPR) is 118.47%.
Insider Transactions at Allstate
In other news, EVP Mark Q. Prindiville sold 5,511 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $125.93, for a total value of $694,000.23. Following the completion of the sale, the executive vice president now directly owns 15,552 shares of the company’s stock, valued at $1,958,463.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.77% of the stock is owned by insiders.
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.
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