King Luther Capital Management Corp Has $25.08 Million Stock Position in The Allstate Corporation $ALL

King Luther Capital Management Corp reduced its position in shares of The Allstate Corporation (NYSE:ALL) by 4.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 116,845 shares of the insurance provider’s stock after selling 5,074 shares during the quarter. King Luther Capital Management Corp’s holdings in Allstate were worth $25,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of ALL. Harbor Capital Advisors Inc. boosted its holdings in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC increased its stake in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the period. Clearstead Trust LLC lifted its position in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares during the last quarter. Armstrong Advisory Group Inc. boosted its stake in Allstate by 72.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 67 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Allstate by 315.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after buying an additional 126 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 24,729 shares of company stock worth $5,219,282 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $238.00 price target on shares of Allstate in a report on Saturday, February 7th. Wall Street Zen lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. BMO Capital Markets increased their price target on shares of Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Finally, Evercore set a $225.00 price objective on shares of Allstate in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $239.35.

Allstate Trading Down 3.0%

Shares of ALL stock opened at $203.25 on Friday. The stock has a market cap of $53.19 billion, a price-to-earnings ratio of 5.32, a P/E/G ratio of 0.44 and a beta of 0.23. 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 Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The firm has a fifty day moving average of $204.00 and a 200-day moving average of $204.38.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same period in the previous year, the business earned $7.67 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio is currently 10.47%.

About Allstate

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.