Rhumbline Advisers Sells 5,835 Shares of The Allstate Corporation $ALL

Rhumbline Advisers cut its position in The Allstate Corporation (NYSE:ALL) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 512,208 shares of the insurance provider’s stock after selling 5,835 shares during the period. Rhumbline Advisers’ holdings in Allstate were worth $109,946,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after acquiring an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $231,000. IFP Advisors Inc increased its stake in shares of Allstate by 73.8% in the second quarter. IFP Advisors Inc now owns 1,794 shares of the insurance provider’s stock valued at $361,000 after buying an additional 762 shares during the period. MGO One Seven LLC raised its holdings in Allstate by 17.9% during the 2nd quarter. MGO One Seven LLC now owns 5,054 shares of the insurance provider’s stock worth $1,017,000 after purchasing an additional 769 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Allstate by 6.8% during the second quarter. Sequoia Financial Advisors LLC now owns 12,130 shares of the insurance provider’s stock worth $2,442,000 after buying an additional 769 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of recent analyst reports. TD Cowen downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Citigroup boosted their price objective on Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Mizuho boosted their target price on shares of Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, William Blair downgraded Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.35.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 21,871 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the sale, the insider owned 100,646 shares of the company’s stock, valued at $21,660,025.66. The trade was a 17.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 48,400 shares of company stock valued at $10,313,256. 1.70% of the stock is currently owned by insiders.

Allstate Stock Performance

NYSE ALL opened at $204.54 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37. The company has a market capitalization of $53.52 billion, a PE ratio of 5.36, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The company has a 50-day simple moving average of $203.43 and a 200 day simple moving average of $203.96.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The company had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. Allstate’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.67 EPS. On average, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $1.08 dividend. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate’s payout ratio is 10.47%.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.