Axxcess Wealth Management LLC Increases Holdings in The Allstate Co. (NYSE:ALL)

Axxcess Wealth Management LLC increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 117.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,357 shares of the insurance provider’s stock after purchasing an additional 2,356 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Allstate were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new stake in shares of Allstate during the first quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate in the 1st quarter valued at $26,000. Versant Capital Management Inc lifted its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. bought a new position in shares of Allstate during the 2nd quarter valued at about $38,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Allstate during the fourth quarter valued at about $44,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

ALL stock opened at $190.68 on Friday. The Allstate Co. has a twelve month low of $109.01 and a twelve month high of $192.50. The firm has a market cap of $50.32 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 1.74 and a beta of 0.48. The business’s fifty day simple moving average is $178.87 and its two-hundred day simple moving average is $169.93. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted ($4.42) EPS. Analysts predict that The Allstate Co. will post 15.16 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.93%. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ALL shares. The Goldman Sachs Group boosted their target price on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Roth Mkm reiterated a “buy” rating and set a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.76.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Suren Gupta sold 45,775 shares of the company’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 value of $8,114,992.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the transaction, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. 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 ninety days. 1.80% of the stock is owned by company insiders.

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.