V Wealth Advisors LLC increased its position in Allstate Corp (NYSE:ALL) by 19.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,900 shares of the insurance provider’s stock after purchasing an additional 478 shares during the quarter. V Wealth Advisors LLC’s holdings in Allstate were worth $295,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of ALL. Boston Partners lifted its position in Allstate by 17.1% in the first quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock worth $1,045,965,000 after purchasing an additional 1,620,871 shares during the period. Geode Capital Management LLC lifted its position in Allstate by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock worth $390,468,000 after purchasing an additional 391,869 shares during the period. Atalanta Sosnoff Capital LLC bought a new position in Allstate in the second quarter worth $39,602,000. BNP Paribas Arbitrage SA lifted its position in Allstate by 171.0% in the first quarter. BNP Paribas Arbitrage SA now owns 564,501 shares of the insurance provider’s stock worth $53,165,000 after purchasing an additional 356,226 shares during the period. Finally, Bank of Montreal Can lifted its position in Allstate by 10.9% in the first quarter. Bank of Montreal Can now owns 3,279,066 shares of the insurance provider’s stock worth $308,822,000 after purchasing an additional 321,139 shares during the period. 77.52% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE ALL traded down $1.21 during midday trading on Friday, reaching $104.09. 1,868,408 shares of the company traded hands, compared to its average volume of 1,492,013. The firm has a market capitalization of $34.27 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.33 and a beta of 0.82. The business’s 50-day moving average price is $103.01. Allstate Corp has a 12 month low of $77.00 and a 12 month high of $109.13. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.29.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.92%. Allstate’s payout ratio is presently 24.78%.
In related news, EVP Susan L. Lees sold 30,189 shares of Allstate stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $102.26, for a total value of $3,087,127.14. Following the completion of the transaction, the executive vice president now directly owns 62,854 shares of the company’s stock, valued at $6,427,450.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith A. Sprieser sold 2,225 shares of Allstate stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $102.63, for a total value of $228,351.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,836 shares of company stock valued at $13,071,947. Company insiders own 1.60% of the company’s stock.
Several brokerages recently commented on ALL. Morgan Stanley raised their target price on Allstate from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Raymond James raised their target price on Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. Barclays raised their target price on Allstate from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, July 1st. Credit Suisse Group cut Allstate from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $100.00 to $94.00 in a research report on Thursday, July 11th. Finally, UBS Group lifted their price objective on Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $107.25.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
Further Reading: Why do commodities matter?
Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allstate Corp (NYSE:ALL).
Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.