Daymark Wealth Partners LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Daymark Wealth Partners LLC acquired a new stake in shares of The Allstate Co. (NYSE:ALL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,309 shares of the insurance provider’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. Accretive Wealth Partners LLC bought a new stake in Allstate during the fourth quarter valued at about $201,000. 9258 Wealth Management LLC boosted its stake in Allstate by 10.9% during the 4th quarter. 9258 Wealth Management LLC now owns 10,034 shares of the insurance provider’s stock valued at $1,405,000 after purchasing an additional 987 shares during the period. TD Asset Management Inc grew its holdings in Allstate by 4.3% in the 4th quarter. TD Asset Management Inc now owns 104,972 shares of the insurance provider’s stock valued at $14,694,000 after buying an additional 4,324 shares during the last quarter. Focus Financial Network Inc. ADV bought a new position in Allstate in the 4th quarter worth approximately $872,000. Finally, Evoke Wealth LLC acquired a new position in shares of Allstate during the fourth quarter worth approximately $261,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Trading Down 0.2 %

Shares of Allstate stock opened at $188.36 on Friday. The Allstate Co. has a 12-month low of $109.01 and a 12-month high of $193.97. The stock has a market capitalization of $49.71 billion, a P/E ratio of 41.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a 50-day simple moving average of $181.32 and a 200 day simple moving average of $171.40. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion during 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%. Allstate’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($4.42) earnings per share. Research analysts expect that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. Allstate’s dividend payout ratio is 81.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their price objective on shares of 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 target price on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler raised their price objective on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’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 completion of the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Suren Gupta sold 45,775 shares of Allstate 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 of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock worth $43,082,657 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Allstate 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.