Prime Capital Investment Advisors LLC Has $835,000 Holdings in The Allstate Co. (NYSE:ALL)

16 Nov 2024, 11:10 by Danessa Lincoln · The Markets Daily

Prime Capital Investment Advisors LLC trimmed its stake in The Allstate Co. (NYSE:ALL – Free Report) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,405 shares of the insurance provider’s stock after selling 106 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Allstate were worth $835,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC boosted its holdings in Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after purchasing an additional 1,047,019 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after buying an additional 472,040 shares during the period. AQR Capital Management LLC grew its position in Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after buying an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Allstate during the third quarter valued at about $77,819,000. Finally, Acadian Asset Management LLC raised its holdings in Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after acquiring an additional 405,553 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This trade represents a 50.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,049 shares of company stock valued at $26,106,112. 1.80% of the stock is currently owned by company insiders.

Allstate Stock Performance

Allstate stock opened at $196.88 on Friday. The company has a market cap of $52.13 billion, a PE ratio of 12.81, a PEG ratio of 1.75 and a beta of 0.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The Allstate Co. has a 1 year low of $131.65 and a 1 year high of $201.00. The company’s 50-day moving average is $189.79 and its two-hundred day moving average is $176.53.

Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Equities analysts anticipate that The Allstate Co. will post 16.07 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. Allstate’s dividend payout ratio is presently 23.83%.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their price target on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods increased their price objective on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their target price on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group increased their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

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