Sigma Planning Corp Sells 1,235 Shares of The Allstate Co. (NYSE:ALL)

Posted by Defense World Staff on Apr 6th, 2023

Sigma Planning Corp decreased its holdings in The Allstate Co. (NYSE:ALL – Get Rating) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,224 shares of the insurance provider’s stock after selling 1,235 shares during the period. Sigma Planning Corp’s holdings in Allstate were worth $1,522,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Accurate Wealth Management LLC bought a new position in shares of Allstate in the 4th quarter valued at about $27,000. Heritage Wealth Management LLC bought a new position in shares of Allstate in the 2nd quarter valued at about $30,000. Standard Family Office LLC bought a new stake in Allstate in the third quarter worth about $37,000. First Personal Financial Services bought a new stake in Allstate in the third quarter worth about $43,000. Finally, Hexagon Capital Partners LLC lifted its stake in Allstate by 28.1% in the third quarter. Hexagon Capital Partners LLC now owns 356 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 77.48% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $114.88 on Thursday. The firm has a market cap of $30.25 billion, a price-to-earnings ratio of -21.59, a PEG ratio of 2.35 and a beta of 0.57. The company’s 50 day moving average is $123.28 and its 200 day moving average is $128.46. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.52. The Allstate Co. has a 52-week low of $103.20 and a 52-week high of $144.46.

Allstate (NYSE:ALL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The insurance provider reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.01. The company had revenue of $13.55 billion for the quarter, compared to analyst estimates of $13.45 billion. Allstate had a negative net margin of 2.55% and a negative return on equity of 1.04%. Allstate’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.75 earnings per share. On average, sell-side analysts anticipate that The Allstate Co. will post 6.72 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Tuesday, February 28th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 3.10%. This is a positive change from Allstate’s previous quarterly dividend of $0.85. The ex-dividend date was Monday, February 27th. Allstate’s dividend payout ratio (DPR) is presently -66.92%.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 29,451 shares of Allstate stock in a transaction on 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 transaction, the chief financial officer now directly owns 16,668 shares of the company’s stock, valued at $2,236,512.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ALL. TheStreet downgraded shares of Allstate from a “b-” rating to a “c+” rating in a research note on Wednesday, March 8th. Citigroup decreased their price objective on shares of Allstate from $160.00 to $150.00 in a research note on Thursday, January 19th. StockNews.com began coverage on shares of Allstate in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Roth Capital reissued a “buy” rating on shares of Allstate in a research note on Thursday, February 2nd. Finally, Evercore ISI decreased their price target on shares of Allstate from $138.00 to $132.00 and set an “in-line” rating for the company in a research note on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $145.54.

Allstate Company Profile

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The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.