Wealthfront Advisers LLC Boosts Stake in Allstate Corp (NYSE:ALL)

Wealthfront Advisers LLC increased its stake in shares of Allstate Corp (NYSE:ALL) by 7.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,026 shares of the insurance provider’s stock after purchasing an additional 1,658 shares during the period. Wealthfront Advisers LLC’s holdings in Allstate were worth $2,720,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ALL. Manchester Financial Inc. acquired a new stake in Allstate during the 2nd quarter worth approximately $25,000. Redhawk Wealth Advisors Inc. acquired a new stake in Allstate during the 2nd quarter worth approximately $27,000. Stonebridge Capital Advisors LLC acquired a new stake in Allstate during the 2nd quarter worth approximately $34,000. Mcmillion Capital Management Inc. acquired a new stake in Allstate during the 2nd quarter worth approximately $35,000. Finally, Webster Bank N. A. lifted its holdings in Allstate by 100.0% during the 2nd quarter. Webster Bank N. A. now owns 400 shares of the insurance provider’s stock worth $41,000 after buying an additional 200 shares in the last quarter. 76.85% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Jesse E. Merten sold 900 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $102.27, for a total value of $92,043.00. Following the sale, the executive vice president now directly owns 4,869 shares in the company, valued at approximately $497,952.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Steven E. Shebik sold 35,014 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.64, for a total transaction of $3,628,850.96. Following the completion of the sale, the insider now owns 121,476 shares in the company, valued at $12,589,772.64. The disclosure for this sale can be found here. Insiders sold a total of 99,783 shares of company stock worth $10,472,581 over the last 90 days. Company insiders own 1.60% of the company’s stock.

ALL has been the topic of a number of research reports. Barclays set a $125.00 target price on shares of Allstate and gave the stock a “buy” rating in a report on Monday, August 12th. UBS Group increased their target price on shares of Allstate from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Raymond James increased their target price on shares of Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. Buckingham Research increased their target price on shares of Allstate from $100.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, ValuEngine lowered shares of Allstate from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Allstate presently has an average rating of “Hold” and an average target price of $108.38.

Shares of ALL traded down $0.55 during midday trading on Wednesday, reaching $107.52. The stock had a trading volume of 51,877 shares, compared to its average volume of 1,674,806. Allstate Corp has a 1-year low of $77.00 and a 1-year high of $109.55. The company’s fifty day simple moving average is $106.20 and its two-hundred day simple moving average is $101.40. The company has a market cap of $35.53 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.28 and a quick ratio of 0.28.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.70. Allstate had a net margin of 6.52% and a return on equity of 12.66%. The business had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. During the same period last year, the business earned $2.00 EPS. The company’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Allstate Corp will post 9.66 earnings per share for the current year.

Allstate Profile

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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