LPL Financial LLC Purchases 16,846 Shares of The Allstate Co. (NYSE:ALL)

LPL Financial LLC grew its position in The Allstate Co. (NYSE:ALL) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,939 shares of the insurance provider’s stock after acquiring an additional 16,846 shares during the period. LPL Financial LLC owned about 0.08% of Allstate worth $32,082,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Allstate during the fourth quarter worth approximately $212,771,000. Palestra Capital Management LLC bought a new stake in Allstate in the 4th quarter valued at $83,561,000. Balyasny Asset Management L.P. acquired a new stake in Allstate during the 4th quarter valued at $81,571,000. Artemis Investment Management LLP bought a new position in Allstate during the first quarter worth $95,764,000. Finally, Acadian Asset Management LLC raised its position in shares of Allstate by 3,839.0% in the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after purchasing an additional 405,553 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 completion of the transaction, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,938 shares of company stock worth $36,122,740. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen lifted their target price on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. BMO Capital Markets boosted their price target on Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods lifted their target price on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, Bank of America upped their price target on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Allstate Stock Performance

NYSE:ALL opened at $190.56 on Tuesday. The Allstate Co. has a twelve month low of $108.16 and a twelve month high of $191.33. 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 stock’s 50-day simple moving average is $177.05 and its 200 day simple moving average is $169.39. The firm has a market capitalization of $50.29 billion, a PE ratio of 42.07, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted ($4.42) EPS. On average, analysts anticipate that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.93%. Allstate’s dividend payout ratio (DPR) is presently 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.