Partnership Wealth Management LLC Takes Position in The Allstate Co. (NYSE:ALL)

Partnership Wealth Management LLC purchased a new stake in shares of The Allstate Co. (NYSE:ALL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 556 shares of the insurance provider’s stock, valued at approximately $86,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Allstate in the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Allstate in the 4th quarter worth about $36,000. Venturi Wealth Management LLC grew its stake in shares of Allstate by 152.7% in the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock worth $39,000 after buying an additional 168 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Allstate during the 4th quarter valued at approximately $43,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Allstate in the third quarter worth $48,000. 76.47% of the stock is owned by institutional investors.

Insider Transactions at Allstate

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

Allstate Price Performance

Shares of Allstate stock traded down $2.83 during trading hours on Monday, hitting $169.88. The company’s stock had a trading volume of 964,906 shares, compared to its average volume of 1,654,746. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37. The business has a 50 day moving average price of $167.23 and a two-hundred day moving average price of $152.92. The company has a market cap of $44.83 billion, a PE ratio of 37.50, a PEG ratio of 0.39 and a beta of 0.51.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. During the same period in the prior year, the company posted ($1.30) EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts expect that The Allstate Co. will post 15 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.17%. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s payout ratio is 81.24%.

Wall Street Analysts Forecast Growth

ALL has been the subject of several recent analyst reports. BMO Capital Markets lifted their target price on shares of Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. Evercore ISI increased their target price on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. UBS Group boosted their price target on Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company increased their price objective on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.59.

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.