Avantax Advisory Services Inc. Buys 704 Shares of The Allstate Corporation $ALL

Avantax Advisory Services Inc. lifted its position in The Allstate Corporation (NYSE:ALL) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,573 shares of the insurance provider’s stock after buying an additional 704 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Allstate were worth $4,745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Intech Investment Management LLC lifted its position in shares of Allstate by 151.3% in the second quarter. Intech Investment Management LLC now owns 77,250 shares of the insurance provider’s stock valued at $15,551,000 after buying an additional 46,515 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Allstate by 2.6% in the 2nd quarter. Cetera Investment Advisers now owns 62,751 shares of the insurance provider’s stock valued at $12,632,000 after buying an additional 1,618 shares in the last quarter. Creative Planning lifted its stake in Allstate by 7.1% during the second quarter. Creative Planning now owns 90,651 shares of the insurance provider’s stock worth $18,249,000 after purchasing an additional 6,012 shares during the last quarter. Meridian Wealth Management LLC grew its position in Allstate by 27.3% in the second quarter. Meridian Wealth Management LLC now owns 2,595 shares of the insurance provider’s stock valued at $522,000 after acquiring an additional 557 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Allstate by 7.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,948 shares of the insurance provider’s stock worth $13,075,000 after purchasing an additional 4,346 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of ALL opened at $210.15 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a 50 day moving average price of $202.72 and a two-hundred day moving average price of $201.85. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70. The firm has a market capitalization of $54.99 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.69 and a beta of 0.35.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the firm earned $3.91 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 400 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $215.22, for a total value of $86,088.00. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,661,032.12. The trade was a 0.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Jefferies Financial Group increased their price target on Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods raised their price objective on Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. lifted their price objective on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Evercore ISI set a $233.00 target price on Allstate and gave the company an “in-line” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $237.64.

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.