Meridian Wealth Advisors LLC grew its holdings in The Allstate Co. (NYSE:ALL – Free Report) by 0.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,030 shares of the insurance provider’s stock after purchasing an additional 111 shares during the period. Allstate comprises approximately 0.9% of Meridian Wealth Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Meridian Wealth Advisors LLC’s holdings in Allstate were worth $5,114,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. acquired a new position in Allstate during the first quarter valued at approximately $25,000. Private Wealth Management Group LLC acquired a new stake in shares of Allstate in the 4th quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in shares of Allstate in the first quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate during the first quarter worth $26,000. Finally, Versant Capital Management Inc raised its position in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.
Allstate Price Performance
Shares of ALL traded down $3.66 during midday trading on Thursday, hitting $186.21. The company’s stock had a trading volume of 108,315 shares, compared to its average volume of 1,563,429. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a one year low of $105.85 and a one year high of $191.33. The stock has a market capitalization of $49.14 billion, a price-to-earnings ratio of 41.91, a price-to-earnings-growth ratio of 1.78 and a beta of 0.48. The company’s fifty day simple moving average is $172.74 and its two-hundred day simple moving average is $167.83.
Allstate Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, August 30th. Allstate’s payout ratio is 81.24%.
Insider Buying and Selling
In other news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Allstate news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the transaction, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. The disclosure for this sale can be found here. Insiders have sold 201,938 shares of company stock worth $36,122,740 in the last 90 days. Insiders own 1.80% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on ALL. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Wells Fargo & Company reduced their price target on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. TD Cowen lifted their target price on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.
Check Out Our Latest Research Report on ALL
About Allstate
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.
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