Providence Wealth Advisors LLC Increases Holdings in The Allstate Co. (NYSE:ALL)

Providence Wealth Advisors LLC grew its holdings in The Allstate Co. (NYSE:ALL) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,340 shares of the insurance provider’s stock after acquiring an additional 124 shares during the period. Allstate comprises about 2.0% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Providence Wealth Advisors LLC’s holdings in Allstate were worth $2,759,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ALL. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the third quarter valued at about $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Allstate in the third quarter valued at about $29,000. Versant Capital Management Inc lifted its position in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Allstate in the second quarter valued at about $38,000. Finally, MCF Advisors LLC lifted its position in shares of Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 84 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ALL. Roth Mkm restated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley lifted their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Raymond James lifted their target price on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average target price of $217.19.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $208.20 on Friday. The firm has a market capitalization of $55.13 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The business has a fifty day moving average of $192.69 and a 200 day moving average of $178.77. The Allstate Co. has a 1 year low of $134.17 and a 1 year high of $209.88.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. As a group, research analysts expect 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. Shareholders of record on Friday, November 29th will be paid 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 dividend yield of 1.77%. Allstate’s payout ratio is currently 23.83%.

Allstate Company 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.