ICA Group Wealth Management LLC Buys Shares of 1,084 The Allstate Co. (NYSE:ALL)

ICA Group Wealth Management LLC acquired a new position in The Allstate Co. (NYSE:ALL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,084 shares of the insurance provider’s stock, valued at approximately $152,000.

A number of other institutional investors have also recently made changes to their positions in ALL. QRG Capital Management Inc. acquired a new stake in shares of Allstate in the 3rd quarter worth $2,389,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Allstate in the 3rd quarter worth $5,019,000. Envestnet Asset Management Inc. boosted its position in shares of Allstate by 9.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 271,032 shares of the insurance provider’s stock worth $30,196,000 after purchasing an additional 23,926 shares in the last quarter. FMR LLC raised its stake in Allstate by 9.6% in the 3rd quarter. FMR LLC now owns 517,374 shares of the insurance provider’s stock worth $57,641,000 after acquiring an additional 45,363 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Allstate by 46.6% in the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after acquiring an additional 1,311,095 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Evercore ISI raised their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley lifted their price objective on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company lifted their price objective on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.59.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the firm’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 directly owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Allstate Trading Up 0.4 %

NYSE ALL traded up $0.70 on Monday, reaching $157.77. The stock had a trading volume of 167,777 shares, compared to its average volume of 1,578,525. The firm has a market capitalization of $41.64 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 1.48 and a beta of 0.50. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37. The stock has a fifty day moving average price of $167.35 and a two-hundred day moving average price of $158.76.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.30) earnings per share. As a group, sell-side analysts forecast that The Allstate Co. will post 15.13 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, May 31st. Allstate’s payout ratio is currently 81.24%.

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.