Bright Futures Wealth Management LLC. Takes Position in The Allstate Corporation $ALL

Bright Futures Wealth Management LLC. acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,412 shares of the insurance provider’s stock, valued at approximately $518,000.

A number of other large investors have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. lifted its holdings 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 buying an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC increased 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. Clearstead Trust LLC lifted its holdings in Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares during the period. Armstrong Advisory Group Inc. boosted its position in Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 67 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Allstate in the third quarter worth about $37,000. Institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares in the company, valued at $21,135,660. This represents a 16.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a research report on Friday, February 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $238.00 target price on shares of Allstate in a report on Saturday, February 7th. Citigroup increased their price target on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Morgan Stanley reissued an “equal weight” rating and set a $215.00 price objective (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Finally, William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $239.29.

Allstate Stock Up 0.7%

Shares of ALL stock opened at $214.17 on Monday. 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 Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The company’s fifty day moving average price is $204.23 and its 200-day moving average price is $204.50. The company has a market capitalization of $55.59 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 0.45 and a beta of 0.23.

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

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is presently 10.47%.

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.