Legacy Financial Advisors Inc. Increases Position in The Allstate Co. (NYSE:ALL)

Legacy Financial Advisors Inc. grew its holdings in shares of The Allstate Co. (NYSE:ALL) by 2.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,896 shares of the insurance provider’s stock after purchasing an additional 89 shares during the period. Legacy Financial Advisors Inc.’s holdings in Allstate were worth $622,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in Allstate during the first quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the 1st quarter worth about $26,000. Versant Capital Management Inc raised its position in shares of 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 during the last quarter. Family Firm Inc. purchased a new stake in Allstate during the 2nd quarter valued at about $38,000. Finally, MCF Advisors LLC increased its stake in Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group upped their price objective on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Bank of America upped their price target on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. 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 stock. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Insider Buying and Selling

In other Allstate news, 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 value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction 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 transaction, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Suren Gupta sold 45,775 shares of the 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 owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,938 shares of company stock valued at $36,122,740. 1.80% of the stock is owned by corporate insiders.

Allstate Stock Up 0.2 %

Shares of ALL stock opened at $191.00 on Friday. The company has a 50 day simple moving average of $179.42 and a two-hundred day simple moving average of $170.27. The stock has a market cap of $50.41 billion, a P/E ratio of 42.16, a P/E/G ratio of 1.74 and a beta of 0.48. The Allstate Co. has a 12 month low of $109.01 and a 12 month high of $193.19. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last announced 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. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same period last year, the firm earned ($4.42) EPS. Allstate’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, research analysts expect that The Allstate Co. will post 15.16 earnings per share for the current year.

Allstate Announces Dividend

The business 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 dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. Allstate’s dividend payout ratio (DPR) is presently 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.