Sowell Financial Services LLC Buys 8,847 Shares of The Allstate Corporation $ALL

Sowell Financial Services LLC lifted its stake in shares of The Allstate Corporation (NYSE:ALL) by 156.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,499 shares of the insurance provider’s stock after acquiring an additional 8,847 shares during the period. Sowell Financial Services LLC’s holdings in Allstate were worth $3,112,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arlington Trust Co LLC raised its position in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Clearstead Trust LLC raised its holdings in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after buying an additional 152 shares in the last quarter. Armstrong Advisory Group Inc. lifted its position in Allstate by 72.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after buying an additional 67 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after buying an additional 126 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

ALL stock opened at $207.82 on Monday. The stock has a market capitalization of $54.38 billion, a price-to-earnings ratio of 6.73, a PEG ratio of 0.38 and a beta of 0.25. The firm’s 50-day moving average price is $204.25 and its two-hundred day moving average price is $202.61. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.89.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The company had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the prior year, the business posted $3.91 earnings per share. Allstate’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, December 1st. Allstate’s dividend payout ratio (DPR) is currently 12.95%.

Insider Activity

In related news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 28,807 shares of company stock worth $6,198,726 over the last 90 days. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ALL. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Evercore ISI set a $233.00 target price on shares of Allstate and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. BMO Capital Markets upped their price target on shares of Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Mizuho began coverage on Allstate in a research note on Monday, December 15th. They set an “outperform” rating and a $254.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.93.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.