Shares of The Allstate Co. (NYSE:ALL) sold by Capital Investment Advisors LLC

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Capital Investment Advisors LLC reduced its holdings of The Allstate Co. (NYSE:ALL – Get Rating) stock by 2.3% in Q1, HoldingsChannel reports. The fund held 4,220 shares of the insurance provider after selling 100 shares during the quarter. Capital Investment Advisors LLC’s holdings in Allstate were worth $585,000 when it last filed with the SEC.

Other large investors have also increased or reduced their stake in the company. Private Trust Co. NA increased its position in Allstate shares by 6.5% in the first quarter. Private Trust Co. NA now owns 4,819 shares of the insurance provider valued at $667,000 after buying 293 additional shares during the period. Carnegie Capital Asset Management LLC acquired a new equity stake in Allstate in Q1 worth approximately $203,000. Cornerstone Advisory LLC acquired a new equity stake in Allstate in Q4 valued at approximately $190,000. Benjamin F. Edwards & Company Inc. increased its position in Allstate shares by 8.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,199 shares of the insurance provider valued at $141,000 after purchasing 97 additional shares during the period. Finally, Synovus Financial Corp strengthened its position in Allstate shares by 8.8% in the 4th quarter. Synovus Financial Corp now owns 9,333 shares of the insurance provider valued at $1,099,000 after buying an additional 754 shares during the period. 75.84% of the shares are held by institutional investors and hedge funds.

In related news, CEO Thomas J. Wilson sold 142,000 shares of the company in a trade that took place on Thursday, June 2. The stock was sold at an average price of $133.39, for a total value of $18,941,380.00. Following completion of the transaction, the CEO now directly owns 99,828 shares of the company, valued at approximately $13,316,056.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Insiders of the company own 1.77% of the shares of the company.

A number of analysts have recently released reports on ALL stocks. Goldman Sachs Group downgraded Allstate from a “sell” to a “buy” rating and raised its target price for the company from $111.00 to $142.00 in a Wednesday, March 2 research report. Piper Sandler cut her price target on Allstate from $150.00 to $147.00 and set an “overweight” rating for the company in a Friday, April 22 research note. Argus downgraded Allstate from a “buy” rating to a “hold” rating in a Friday, May 20 research note. Barclays raised its price target on Allstate from $119.00 to $141.00 and gave the company an “equal weight” rating in a Tuesday, April 12 research note. Finally, StockNews.com supported Allstate’s coverage in a Thursday, March 31, research note. They set a “holding” rating for the company. One financial analyst has assigned the stock a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned the company’s stock a strong buy rating. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $145.75.

Shares of ALL opened at $127.16 on Friday. The company has a market capitalization of $34.97 billion, a price-to-earnings ratio of 10.65, a growth price-to-earnings ratio of 2.46 and a beta of 0.82. The stock has a 50-day simple moving average of $129.46 and a 200-day simple moving average of $126.68. The Allstate Co. has a 12-month low of $106.11 and a 12-month high of $144.46. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt ratio of 0.38.

Allstate (NYSE:ALL – Get Rating) last released its quarterly earnings data on Wednesday, May 4. The insurance provider reported earnings per share of $2.58 for the quarter, missing the consensus estimate of $2.79 per ($0.21). Allstate had a net margin of 7.20% and a return on equity of 12.50%. The company posted revenue of $10.98 billion in the quarter, compared to $11.14 billion expected by analysts. In the same period a year earlier, the company had earned earnings per share of $6.11. The company’s revenue for the quarter increased 6.5% year over year. On average, stock analysts expect The Allstate Co. to post earnings per share of 9.14 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Investors of record on Friday, June 3 will receive a dividend of $0.85. This represents an annualized dividend of $3.40 and a yield of 2.67%. The ex-dividend date is Thursday, June 2. Allstate’s payout ratio is currently 28.48%.

About Allstate (Get a rating)

Allstate Corporation, together with its subsidiaries, provides property and casualty and other insurance products in the United States and Canada. The company operates through Allstate Protection; protective services; Allstate Health and Benefits; and the Damage-Passive segments in run-off. The Allstate Protection segment offers auto and home insurance for private passengers; specialty automotive products, including insurance for motorcycles, trailers, motorhomes and all-terrain vehicles; other personal insurance products, such as renters, condominiums, homeowners, boats, umbrellas, manufactured homes and self-contained scheduled personal property; and commercial products under the Allstate and Encompass brands.

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Want to see what other hedge funds hold ALL? Visit HoldingsChannel.com for the latest 13F filings and insider trading for The Allstate Co. (NYSE:ALL – Get Rating).

Institutional ownership by quarter for Allstate (NYSE:ALL)



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