Bright Futures Wealth Management LLC. Invests $381,000 in The Allstate Co. (NYSE:ALL)

Bright Futures Wealth Management LLC. purchased a new position in shares of The Allstate Co. (NYSE:ALL) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,382 shares of the insurance provider’s stock, valued at approximately $381,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Allstate during the fourth quarter valued at approximately $212,771,000. Palestra Capital Management LLC acquired a new stake in Allstate in the 4th quarter valued at $83,561,000. Balyasny Asset Management L.P. acquired a new stake in Allstate in the 4th quarter valued at $81,571,000. Artemis Investment Management LLP acquired a new position in shares of Allstate during the first quarter worth about $95,764,000. Finally, Mizuho Markets Americas LLC purchased a new stake in shares of Allstate in the fourth quarter worth about $52,042,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on ALL. JPMorgan Chase & Co. boosted their price target on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Bank of America lifted their price target on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday. Roth Mkm upped their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. BMO Capital Markets raised Allstate from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $190.00 to $191.00 in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group raised their price objective on Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $183.24.

Allstate Stock Performance

NYSE:ALL traded down $0.56 during mid-day trading on Friday, hitting $176.82. 1,699,634 shares of the company’s stock traded hands, compared to its average volume of 1,456,058. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $164.68 and a two-hundred day moving average of $164.25. The firm has a market capitalization of $46.69 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The Allstate Co. has a 12 month low of $104.29 and a 12 month high of $180.87.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter in the previous year, the firm posted ($4.42) EPS. The business’s revenue was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.08%. Allstate’s payout ratio is 81.24%.

About Allstate

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.