Independent Advisor Alliance Acquires 14,237 Shares of The Allstate Co. (NYSE:ALL)

Independent Advisor Alliance boosted its holdings in The Allstate Co. (NYSE:ALL) by 227.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,498 shares of the insurance provider’s stock after buying an additional 14,237 shares during the period. Independent Advisor Alliance’s holdings in Allstate were worth $3,888,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ALL. Northwest Investment Counselors LLC bought a new position in Allstate in the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC bought a new position in Allstate in the 3rd quarter worth approximately $29,000. Versant Capital Management Inc increased its position in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the period. Family Firm Inc. bought a new position in Allstate in the 2nd quarter worth approximately $38,000. Finally, MCF Advisors LLC increased its position in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares during the period. 76.47% of the stock is owned by institutional investors.

Allstate Price Performance

Shares of ALL stock opened at $202.14 on Tuesday. The stock’s fifty day simple moving average is $191.64 and its 200 day simple moving average is $178.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $53.53 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.81 and a beta of 0.48. The Allstate Co. has a one year low of $134.17 and a one year high of $205.35.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. On average, analysts expect that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio is currently 23.83%.

Analysts Set New Price Targets

Several brokerages have commented on ALL. The Goldman Sachs Group lifted their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. TD Cowen lifted their price objective on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company lifted their price objective on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley lifted their price objective on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group lifted their price objective on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $214.19.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Allstate 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.