Ascent Group LLC decreased its position in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 32.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,339 shares of the insurance provider’s stock after selling 2,580 shares during the period. Ascent Group LLC’s holdings in Allstate were worth $674,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Balyasny Asset Management LLC grew its holdings in Allstate by 57.3% during the 3rd quarter. Balyasny Asset Management LLC now owns 440,327 shares of the insurance provider’s stock valued at $54,834,000 after buying an additional 160,318 shares in the last quarter. Cooke & Bieler LP grew its holdings in Allstate by 25.9% during the 3rd quarter. Cooke & Bieler LP now owns 988,255 shares of the insurance provider’s stock valued at $123,067,000 after buying an additional 203,154 shares in the last quarter. Covington Capital Management grew its holdings in Allstate by 18.5% during the 3rd quarter. Covington Capital Management now owns 1,000 shares of the insurance provider’s stock valued at $125,000 after buying an additional 156 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in Allstate by 31.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 30,746 shares of the insurance provider’s stock valued at $3,829,000 after buying an additional 7,424 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its holdings in Allstate by 9.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,408 shares of the insurance provider’s stock valued at $300,000 after buying an additional 209 shares in the last quarter. 77.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ALL has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of Allstate from $144.00 to $126.00 and set an “equal weight” rating for the company in a report on Friday, January 20th. BMO Capital Markets started coverage on shares of Allstate in a report on Thursday, January 19th. They issued a “market perform” rating and a $130.00 target price for the company. Piper Sandler raised their target price on shares of Allstate from $147.00 to $153.00 and gave the company an “overweight” rating in a report on Tuesday, January 10th. Wells Fargo & Company cut their target price on shares of Allstate from $105.00 to $104.00 and set an “underweight” rating for the company in a report on Friday, February 3rd. Finally, UBS Group raised their target price on shares of Allstate from $150.00 to $160.00 in a report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $147.31.
Allstate Stock Up 0.2 %
Allstate (NYSE:ALL – Get Rating) last released its earnings results on Thursday, February 2nd. The insurance provider reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.01. Allstate had a negative return on equity of 1.04% and a negative net margin of 2.55%. The business had revenue of $13.55 billion during the quarter, compared to the consensus estimate of $13.45 billion. During the same period last year, the company earned $2.75 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts predict that The Allstate Co. will post 6.83 earnings per share for the current year.
Allstate Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Tuesday, February 28th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 3.11%. This is an increase from Allstate’s previous quarterly dividend of $0.85. The ex-dividend date is Monday, February 27th. Allstate’s dividend payout ratio (DPR) is -66.92%.
Insider Activity at Allstate
In other Allstate news, CFO Jesse E. Merten sold 29,451 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $134.18, for a total value of $3,951,735.18. Following the completion of the transaction, the chief financial officer now directly owns 16,668 shares in the company, valued at $2,236,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.77% of the stock is currently owned by corporate insiders.
Allstate Company Profile
The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property Liability and Corporate and Other.
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