King Luther Capital Management Corp Sells 3,686 Shares of The Allstate Corporation $ALL

King Luther Capital Management Corp trimmed its holdings in The Allstate Corporation (NYSE:ALL) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 113,159 shares of the insurance provider’s stock after selling 3,686 shares during the quarter. King Luther Capital Management Corp’s holdings in Allstate were worth $23,554,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State Street Corp lifted its holdings in Allstate by 0.7% in the third quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after acquiring an additional 85,468 shares during the period. Boston Partners lifted its stake in shares of Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after purchasing an additional 395,195 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of Allstate by 3.3% in the second quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after buying an additional 88,620 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Allstate by 18.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock worth $559,435,000 after buying an additional 401,700 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Allstate by 6.7% in the third quarter. Legal & General Group Plc now owns 2,011,214 shares of the insurance provider’s stock worth $431,707,000 after buying an additional 126,401 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALL. Wells Fargo & Company raised their price objective on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Mizuho dropped their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Piper Sandler raised their price objective on shares of Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $241.67.

Allstate Stock Performance

Shares of ALL opened at $208.90 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $212.66 and a two-hundred day simple moving average of $208.53. The stock has a market cap of $53.78 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 0.38 and a beta of 0.21. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.53 earnings per share. On average, analysts expect that The Allstate Corporation will post 29.28 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. Allstate’s dividend payout ratio is presently 9.53%.

Insider Transactions at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.55% of the company’s stock.

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.