Miracle Mile Advisors LLC Acquires 165 Shares of The Allstate Co. (NYSE:ALL)

Miracle Mile Advisors LLC grew its holdings in The Allstate Co. (NYSE:ALL) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,359 shares of the insurance provider’s stock after acquiring an additional 165 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Allstate were worth $637,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ALL. Rise Advisors LLC bought a new stake in Allstate in the 1st quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate in the first quarter valued at about $26,000. Versant Capital Management Inc grew its position in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Family Firm Inc. bought a new position in Allstate during the second quarter valued at about $38,000. Finally, MCF Advisors LLC raised its holdings in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 238,305 shares of company stock worth $43,082,657. Insiders own 1.80% of the company’s stock.

Allstate Price Performance

Allstate stock opened at $182.87 on Wednesday. The business’s fifty day moving average is $183.42 and its two-hundred day moving average is $172.59. 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 firm has a market cap of $48.26 billion, a P/E ratio of 40.37, a P/E/G ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 52 week low of $112.42 and a 52 week high of $193.97.

Allstate (NYSE:ALL) last issued its quarterly earnings data 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 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 analyst estimates of $14.04 billion. During the same quarter in the prior year, the firm earned ($4.42) EPS. The company’s revenue was up 12.4% on a year-over-year basis. Equities research analysts forecast that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. TD Cowen boosted their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Piper Sandler raised their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. JPMorgan Chase & Co. upped their target price 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, Keefe, Bruyette & Woods raised their price target on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.12.

Allstate Company 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.