The Allstate Corporation $ALL Shares Sold by Accurate Wealth Management LLC

Accurate Wealth Management LLC reduced its holdings in The Allstate Corporation (NYSE:ALL) by 21.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,085 shares of the insurance provider’s stock after selling 2,832 shares during the quarter. Accurate Wealth Management LLC’s holdings in Allstate were worth $2,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Allstate in the 4th quarter worth about $231,000. Global Retirement Partners LLC purchased a new stake in Allstate in the 2nd quarter worth about $580,000. Advisors Asset Management Inc. boosted its position in Allstate by 40.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 11,143 shares of the insurance provider’s stock worth $2,243,000 after acquiring an additional 3,222 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its position in Allstate by 16.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 11,618 shares of the insurance provider’s stock worth $2,339,000 after acquiring an additional 1,624 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction 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 sale, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ALL. TD Cowen cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. Zacks Research upgraded shares of Allstate from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Finally, William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.94.

Allstate Stock Down 2.1%

NYSE ALL opened at $202.71 on Friday. The stock’s 50 day simple moving average is $205.03 and its 200 day simple moving average is $204.85. 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 firm has a market cap of $52.61 billion, a PE ratio of 5.31, a price-to-earnings-growth ratio of 0.42 and a beta of 0.23.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 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 company had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same quarter in the previous year, the firm earned $7.67 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio is 11.31%.

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.