Janney Capital Management LLC Trims Stock Holdings in The Allstate Corporation $ALL

Janney Capital Management LLC lowered its holdings in shares of The Allstate Corporation (NYSE:ALL) by 16.7% in the third quarter, Holdings Channel.com reports. The fund owned 16,056 shares of the insurance provider’s stock after selling 3,223 shares during the quarter. Janney Capital Management LLC’s holdings in Allstate were worth $3,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC increased its position 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 worth $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Allstate during the fourth quarter valued at approximately $231,000. Geneos Wealth Management Inc. increased its holdings in Allstate by 27.1% during the first quarter. Geneos Wealth Management Inc. now owns 2,410 shares of the insurance provider’s stock valued at $499,000 after buying an additional 514 shares during the period. First Hawaiian Bank bought a new position in shares of Allstate in the 1st quarter worth $476,000. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Allstate by 7.3% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,946 shares of the insurance provider’s stock valued at $392,000 after buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 48,400 shares of company stock valued at $10,313,256. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALL. TD Cowen reaffirmed a “hold” rating and set a $231.00 target price (up from $224.00) on shares of Allstate in a research report on Monday. UBS Group raised their target price on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. William Blair downgraded Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Wells Fargo & Company raised their price objective on Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Finally, Wolfe Research upgraded Allstate to a “strong-buy” rating in a research report on Tuesday, September 16th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.69.

Allstate Stock Down 1.7%

Allstate stock opened at $208.53 on Tuesday. The business’s 50-day moving average price is $207.69 and its 200 day moving average price is $203.51. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The firm has a market cap of $54.57 billion, a price-to-earnings ratio of 6.75, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter last year, the company earned $3.91 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate’s dividend payout ratio is presently 12.95%.

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.