Meridian Wealth Advisors LLC Grows Position in The Allstate Co. (NYSE:ALL)

Meridian Wealth Advisors LLC raised its position in The Allstate Co. (NYSE:ALL) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,793 shares of the insurance provider’s stock after acquiring an additional 1,089 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Allstate were worth $4,170,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in Allstate in the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Allstate in the fourth quarter worth about $36,000. Venturi Wealth Management LLC raised its stake in shares of Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock worth $39,000 after buying an additional 168 shares during the period. Bruce G. Allen Investments LLC bought a new stake in Allstate during the 4th quarter valued at approximately $43,000. Finally, Planned Solutions Inc. bought a new stake in Allstate during the 4th quarter valued at approximately $53,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Allstate Price Performance

ALL opened at $169.98 on Thursday. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $166.44 and its 200-day simple moving average is $151.91. The company has a market capitalization of $44.86 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 0.39 and a beta of 0.51.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.30) EPS. On average, equities research analysts anticipate that The Allstate Co. will post 14.57 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a yield of 2.16%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALL. HSBC raised Allstate from a “hold” rating to a “buy” rating and lifted their target price for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. Piper Sandler raised their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. JPMorgan Chase & Co. raised their price target on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Roth Mkm lifted their target price on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group boosted their target price on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.18.

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.