Brookstone Capital Management Has $1.51 Million Position in The Allstate Corporation $ALL

Brookstone Capital Management lessened its stake in The Allstate Corporation (NYSE:ALL) by 25.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,275 shares of the insurance provider’s stock after selling 2,494 shares during the period. Brookstone Capital Management’s holdings in Allstate were worth $1,514,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ALL. Harbor Capital Advisors Inc. raised its stake in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC boosted its position in Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 73 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Allstate during the 3rd quarter worth about $31,000. Armstrong Advisory Group Inc. raised its position in shares of 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 acquiring an additional 67 shares in the last quarter. Finally, South Plains Financial Inc. raised its position in shares of Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 49 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

Shares of Allstate stock opened at $207.10 on Friday. The business has a 50-day simple moving average of $206.32 and a 200 day simple moving average of $205.08. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $53.75 billion, a price-to-earnings ratio of 5.42, a PEG ratio of 0.42 and a beta of 0.22.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.72 by $5.59. The business had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.67 earnings per share. On average, research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is 11.31%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of several research analyst reports. Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Morgan Stanley reissued an “equal weight” rating and issued a $215.00 price target (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Raymond James Financial restated a “strong-buy” rating and set a $260.00 price target on shares of Allstate in a report on Tuesday, March 3rd. William Blair downgraded shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.94.

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.