MCF Advisors LLC Buys 84 Shares of The Allstate Co. (NYSE:ALL)

MCF Advisors LLC increased its stake in The Allstate Co. (NYSE:ALL) by 33.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332 shares of the insurance provider’s stock after buying an additional 84 shares during the period. MCF Advisors LLC’s holdings in Allstate were worth $53,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Premier Path Wealth Partners LLC grew its holdings in shares of 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. Versant Capital Management Inc boosted its position in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Beacon Capital Management LLC grew its stake in Allstate by 8.2% in the second quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock worth $166,000 after purchasing an additional 79 shares during the period. Lodestone Wealth Management LLC raised its holdings in Allstate by 4.8% in the second quarter. Lodestone Wealth Management LLC now owns 1,738 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 80 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of Allstate by 12.3% during the 1st quarter. Quent Capital LLC now owns 828 shares of the insurance provider’s stock valued at $143,000 after buying an additional 91 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

ALL opened at $185.42 on Friday. The company’s 50-day simple moving average is $173.77 and its two-hundred day simple moving average is $168.12. 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 stock has a market capitalization of $48.94 billion, a P/E ratio of 40.93, a P/E/G ratio of 1.78 and a beta of 0.48. The Allstate Co. has a 52-week low of $105.85 and a 52-week high of $191.33.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted ($4.42) earnings per share. As a group, analysts predict that The Allstate Co. will post 15.14 EPS for the current year.

Allstate Announces Dividend

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 given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Analyst Ratings Changes

ALL has been the subject of several research reports. TD Cowen increased their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Barclays initiated coverage on Allstate in a research report on Wednesday. They issued an “underweight” rating and a $175.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their target price on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Insider Buying and Selling at Allstate

In other Allstate news, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares in the company, valued at approximately $877,968.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the transaction, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,938 shares of company stock valued at $36,122,740. 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.