Axxcess Wealth Management LLC Purchases 2,356 Shares of The Allstate Co. (NYSE:ALL)

Axxcess Wealth Management LLC raised its position in The Allstate Co. (NYSE:ALL) by 117.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,357 shares of the insurance provider’s stock after acquiring an additional 2,356 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Allstate were worth $696,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SageView Advisory Group LLC acquired a new stake in shares of Allstate in the 4th quarter worth $456,000. Rafferty Asset Management LLC grew its stake in shares of Allstate by 5.7% during the fourth quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock worth $12,984,000 after acquiring an additional 4,987 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Allstate during the fourth quarter valued at about $5,927,000. BDF Gestion purchased a new position in shares of Allstate in the 2nd quarter valued at approximately $3,051,000. Finally, BNP Paribas Financial Markets boosted its stake in Allstate by 55.8% in the 1st quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after purchasing an additional 78,316 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of Allstate stock opened at $190.68 on Friday. The firm has a market cap of $50.32 billion, a PE ratio of 42.09, a P/E/G ratio of 1.74 and a beta of 0.48. The Allstate Co. has a twelve month low of $109.01 and a twelve month high of $192.50. 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 business has a 50-day moving average price of $178.87 and a 200 day moving average price of $169.93.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating 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 business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. During the same period in the previous year, the business earned ($4.42) earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. Sell-side analysts predict that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Insider Activity

In related news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly 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 at this link. In other news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. Insiders have sold a total of 201,938 shares of company stock worth $36,122,740 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on ALL. 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 report on Monday, August 12th. Piper Sandler raised their target price on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Morgan Stanley reduced their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.76.

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.