Meridian Wealth Advisors LLC Has $5.11 Million Stock Position in The Allstate Co. (NYSE:ALL)

Meridian Wealth Advisors LLC grew its holdings in The Allstate Co. (NYSE:ALL) 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 (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($4.42) earnings per share. As a group, equities analysts expect that The Allstate Co. will post 15.14 earnings per share for the current fiscal year.

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.

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.