Dynasty Wealth Management LLC Makes New Investment in The Allstate Corporation $ALL

Dynasty Wealth Management LLC acquired a new stake in The Allstate Corporation (NYSE:ALL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,017 shares of the insurance provider’s stock, valued at approximately $2,365,000.

Several other institutional investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its holdings in shares of Allstate by 3.1% during the second quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock worth $4,745,000 after purchasing an additional 704 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Allstate by 3.8% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 53,802 shares of the insurance provider’s stock valued at $10,831,000 after purchasing an additional 1,959 shares during the last quarter. Commonwealth Retirement Investments LLC grew its position in Allstate by 103.5% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock worth $2,609,000 after purchasing an additional 6,590 shares during the period. Davis Capital Management purchased a new position in shares of Allstate during the 3rd quarter valued at about $2,767,000. Finally, First Horizon Corp acquired a new position in shares of Allstate in the 3rd quarter valued at about $11,109,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares of the company’s stock, valued at $21,135,660. This represents a 16.30% 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. In the last ninety days, insiders sold 48,400 shares of company stock worth $10,313,256. 1.70% of the stock is currently owned by insiders.

Allstate Price Performance

Allstate stock opened at $192.03 on Tuesday. The stock has a market capitalization of $50.25 billion, a P/E ratio of 6.22, a P/E/G ratio of 0.42 and a beta of 0.24. The company’s fifty day moving average price is $207.28 and its 200 day moving average price is $203.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.89.

Allstate (NYSE:ALL) last posted its quarterly earnings data 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 analysts’ expectations of $16.59 billion. During the same period in the prior year, the business posted $3.91 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, December 1st. Allstate’s payout ratio is presently 12.95%.

Analyst Ratings Changes

Several research firms recently commented on ALL. JPMorgan Chase & Co. raised their target price on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Morgan Stanley reissued an “equal weight” rating and issued a $215.00 price target (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. BMO Capital Markets raised their price objective on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, William Blair cut shares of Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $236.19.

Allstate Company 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.