Linscomb Wealth Inc. Buys 535 Shares of The Allstate Co. (NYSE:ALL)

Linscomb Wealth Inc. lifted its stake in The Allstate Co. (NYSE:ALL) by 12.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,881 shares of the insurance provider’s stock after buying an additional 535 shares during the period. Linscomb Wealth Inc.’s holdings in Allstate were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Hazlett Burt & Watson Inc. boosted its stake in shares of Allstate by 955.3% in the second quarter. Hazlett Burt & Watson Inc. now owns 6,490 shares of the insurance provider’s stock valued at $1,037,000 after buying an additional 5,875 shares during the period. LPL Financial LLC lifted its stake in Allstate by 9.2% during the second quarter. LPL Financial LLC now owns 200,939 shares of the insurance provider’s stock worth $32,082,000 after purchasing an additional 16,846 shares during the last quarter. HHM Wealth Advisors LLC lifted its stake in Allstate by 11.2% during the second quarter. HHM Wealth Advisors LLC now owns 1,637 shares of the insurance provider’s stock worth $261,000 after purchasing an additional 165 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Allstate by 15.2% during the second quarter. Daiwa Securities Group Inc. now owns 36,319 shares of the insurance provider’s stock worth $5,798,000 after purchasing an additional 4,782 shares during the last quarter. Finally, Andra AP fonden bought a new stake in Allstate during the second quarter worth $9,739,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

NYSE ALL opened at $184.39 on Thursday. 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 stock has a fifty day simple moving average of $175.30 and a 200 day simple moving average of $168.73. The Allstate Co. has a twelve month low of $107.85 and a twelve month high of $191.33. The company has a market capitalization of $48.66 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 1.75 and a beta of 0.48.

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

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 2.00%. Allstate’s dividend payout ratio is currently 81.24%.

Insiders Place Their Bets

In other Allstate news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the transaction, the executive vice president now owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Allstate news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the transaction, the executive vice president now owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on 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 transaction, the insider now directly owns 89,930 shares in the company, valued at approximately $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 valued at $36,122,740 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ALL shares. TD Cowen upped their target price on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Piper Sandler upped 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. Barclays started coverage on Allstate in a research note on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price for the company. BMO Capital Markets upped their target price on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.