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

Maxwell Wealth Strategies Inc. boosted its stake in shares of The Allstate Co. (NYSE:ALL) by 29.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,644 shares of the insurance provider’s stock after acquiring an additional 1,949 shares during the quarter. Maxwell Wealth Strategies Inc.’s holdings in Allstate were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. UBS Group raised their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price target on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

Allstate Trading Up 0.6 %

Shares of Allstate stock opened at $196.88 on Friday. 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 stock has a market capitalization 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 1-year low of $131.65 and a 1-year high of $201.00. The company’s fifty day simple moving average is $190.01 and its 200-day simple moving average is $176.72.

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

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.87%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio is currently 23.83%.

Insiders Place Their Bets

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

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.