Axxcess Wealth Management LLC Buys Shares of 2,045 The Allstate Co. (NYSE:ALL)

Axxcess Wealth Management LLC bought a new position in The Allstate Co. (NYSE:ALL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,045 shares of the insurance provider’s stock, valued at approximately $286,000.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Allstate by 7.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 92,608 shares of the insurance provider’s stock worth $10,317,000 after buying an additional 6,330 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Allstate during the 3rd quarter worth approximately $444,000. Gradient Investments LLC raised its stake in Allstate by 17.9% during the 3rd quarter. Gradient Investments LLC now owns 4,064 shares of the insurance provider’s stock worth $453,000 after acquiring an additional 617 shares during the period. TIAA Trust National Association purchased a new position in Allstate during the third quarter valued at approximately $2,198,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Allstate by 6.4% in the third quarter. First Horizon Advisors Inc. now owns 67,073 shares of the insurance provider’s stock worth $7,473,000 after purchasing an additional 4,055 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

NYSE ALL opened at $171.46 on Friday. The business’s 50 day moving average price is $166.64 and its 200-day moving average price is $152.04. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The company has a market cap of $45.25 billion, a P/E ratio of 37.85, a P/E/G ratio of 0.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.30) earnings per share. Sell-side analysts predict that The Allstate Co. will post 14.57 earnings per share for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.92 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio is 81.24%.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lifted their target price on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods boosted their price target on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. BMO Capital Markets increased their price objective on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a report on Friday, January 19th. Finally, TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.18.

Insiders Place Their Bets

In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.