Maxwell Wealth Strategies Inc. Raises Holdings in The Allstate Co. (NYSE:ALL)

Maxwell Wealth Strategies Inc. increased its position in The Allstate Co. (NYSE:ALL) by 29.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,644 shares of the insurance provider’s stock after buying an additional 1,949 shares during the period. Maxwell Wealth Strategies Inc.’s holdings in Allstate were worth $1,600,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SPC Financial Inc. grew its holdings in shares of Allstate by 3.6% in the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Allstate by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock worth $596,000 after buying an additional 54 shares in the last quarter. Abacus Planning Group Inc. increased its holdings in shares of Allstate by 2.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after buying an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after buying an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. lifted its holdings in shares of Allstate by 15.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after acquiring an additional 60 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of recent research reports. UBS Group upped their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. BMO Capital Markets lifted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wells Fargo & Company raised their target price on shares of Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler increased their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group boosted their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $214.19.

Insider Buying and Selling at Allstate

In other news, CEO Thomas J. Wilson sold 90,000 shares of the company’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 sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This represents a 50.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was 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 in the company, valued at $877,968.41. The trade was a 77.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,049 shares of company stock valued at $26,106,112. Company insiders own 1.80% of the company’s stock.

Allstate Trading Up 0.6 %

Allstate stock opened at $196.88 on Friday. The firm has a market cap of $52.13 billion, a PE ratio of 12.75, a P/E/G ratio of 1.75 and a beta of 0.48. The Allstate Co. has a 12 month low of $131.65 and a 12 month high of $201.00. The stock’s 50 day simple moving average is $190.01 and its two-hundred day simple moving average is $176.72. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

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

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date 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 currently 23.83%.

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.