Wesbanco Bank Inc. Increases Stock Holdings in The Allstate Co. (NYSE:ALL)

Wesbanco Bank Inc. increased its position in shares of The Allstate Co. (NYSE:ALL) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,716 shares of the insurance provider’s stock after purchasing an additional 111 shares during the period. Wesbanco Bank Inc.’s holdings in Allstate were worth $1,072,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ALL. Prime Capital Investment Advisors LLC increased its stake in Allstate by 10.7% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 4,556 shares of the insurance provider’s stock worth $638,000 after acquiring an additional 441 shares during the last quarter. 180 Wealth Advisors LLC acquired a new stake in shares of Allstate during the 4th quarter worth about $202,000. Meeder Advisory Services Inc. lifted its position in Allstate by 31.1% in the fourth quarter. Meeder Advisory Services Inc. now owns 4,085 shares of the insurance provider’s stock valued at $572,000 after buying an additional 969 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Allstate by 214.6% during the fourth quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of Allstate by 19.9% during the 4th quarter. Bleakley Financial Group LLC now owns 4,990 shares of the insurance provider’s stock worth $699,000 after purchasing an additional 827 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Allstate Stock Performance

Shares of ALL stock opened at $170.18 on Friday. The stock’s 50-day moving average is $165.12 and its two-hundred day moving average is $164.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a 1 year low of $104.29 and a 1 year high of $180.87. The firm has a market cap of $44.91 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 1.86 and a beta of 0.48.

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

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 2.16%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ALL. Wells Fargo & Company lifted their price objective on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $194.00 price target on shares of Allstate in a research report on Friday, July 5th. Bank of America raised their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Morgan Stanley decreased their price target on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average target price of $184.06.

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.