Vanguard Group Inc. Reduces Position in The Allstate Corporation $ALL

Vanguard Group Inc. lessened its holdings in shares of The Allstate Corporation (NYSE:ALL) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,141,983 shares of the insurance provider’s stock after selling 93,248 shares during the period. Vanguard Group Inc. owned approximately 12.58% of Allstate worth $7,113,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALL. BMO Capital Markets boosted their price objective on Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Roth Mkm increased their price target on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, 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 note on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.35.

Allstate Stock Performance

Shares of ALL opened at $207.41 on Tuesday. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a market cap of $54.28 billion, a price-to-earnings ratio of 5.43, a PEG ratio of 0.44 and a beta of 0.24. The business’s 50 day moving average is $203.67 and its two-hundred day moving average is $204.27.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. The firm 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%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $7.67 earnings per share. Analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is 10.47%.

Insider Buying and Selling

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 completion of the sale, the insider owned 100,646 shares in the company, valued at $21,660,025.66. The trade was a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 46,600 shares of company stock valued at $9,926,140 over the last three months. Insiders own 1.70% of the company’s stock.

Allstate Company 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.