Waverly Advisors LLC reduced its holdings in The Allstate Corporation (NYSE:ALL – Free Report) by 30.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 18,238 shares of the insurance provider’s stock after selling 8,011 shares during the quarter. Waverly Advisors LLC’s holdings in Allstate were worth $3,781,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter worth $25,000. Navalign LLC acquired a new position in shares of Allstate in the 4th quarter valued at $27,000. Dorato Capital Management acquired a new position in shares of Allstate in the 4th quarter valued at $27,000. Evolution Wealth Management Inc. boosted its position in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in shares of Allstate during the third quarter worth $31,000. 76.47% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Cantor Fitzgerald upped their price objective on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. HSBC lowered Allstate from a “buy” rating to a “hold” rating and boosted their target price for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Citigroup increased their price target on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average target price of $254.80.
Insider Activity at Allstate
In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is owned by company insiders.
Allstate Stock Performance
Shares of Allstate stock opened at $274.16 on Thursday. The stock’s fifty day simple moving average is $233.97 and its 200 day simple moving average is $217.36. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $70.58 billion, a PE ratio of 6.05, a PEG ratio of 0.47 and a beta of 0.16. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22.
Allstate (NYSE:ALL – Get Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the previous year, the firm earned $3.53 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, research analysts predict that The Allstate Corporation will post 30.69 EPS for the current year.
Allstate Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is 9.53%.
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.
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