Sugarloaf Wealth Management LLC Has $237,000 Stake in The Allstate Co. (NYSE:ALL)

Sugarloaf Wealth Management LLC trimmed its stake in The Allstate Co. (NYSE:ALL) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,247 shares of the insurance provider’s stock after selling 139 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Allstate were worth $237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Abacus Planning Group Inc. increased its holdings in Allstate by 2.4% in the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 56 shares during the period. Premier Path Wealth Partners LLC grew its holdings in Allstate by 2.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after acquiring an additional 61 shares during the period. Aprio Wealth Management LLC grew its holdings in Allstate by 5.9% during the 3rd quarter. Aprio Wealth Management LLC now owns 1,360 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 76 shares during the period. Everpar Advisors LLC grew its holdings in Allstate by 3.3% during the 3rd quarter. Everpar Advisors LLC now owns 2,434 shares of the insurance provider’s stock worth $462,000 after acquiring an additional 77 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In other news, EVP Elizabeth Brady sold 49,481 shares of the firm’s 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 completion of the sale, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of Allstate 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 completion of the transaction, the executive vice president now owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 238,305 shares of company stock worth $43,082,657 in the last quarter. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Bank of America increased their price target on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets raised their target price on Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Piper Sandler raised their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group raised their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $195.12.

Allstate Stock Performance

Shares of Allstate stock traded up $2.08 during mid-day trading on Tuesday, hitting $183.33. 293,157 shares of the stock were exchanged, compared to its average volume of 1,548,133. The Allstate Co. has a 12 month low of $112.42 and a 12 month high of $193.97. The company has a 50-day simple moving average of $183.18 and a 200 day simple moving average of $172.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $48.38 billion, a P/E ratio of 40.00, a P/E/G ratio of 1.81 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter last year, the firm earned ($4.42) EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Sell-side analysts anticipate that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 2.01%. Allstate’s payout ratio is currently 81.24%.

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.