KCM Investment Advisors LLC Has $2.23 Million Stake in The Allstate Co. (NYSE:ALL)

KCM Investment Advisors LLC boosted its stake in The Allstate Co. (NYSE:ALL) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,767 shares of the insurance provider’s stock after purchasing an additional 113 shares during the quarter. KCM Investment Advisors LLC’s holdings in Allstate were worth $2,232,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ALL. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the third quarter worth $28,000. Catalyst Capital Advisors LLC acquired a new position in Allstate in the 3rd quarter valued at about $29,000. Versant Capital Management Inc grew its position in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Allstate during the 2nd quarter valued at $38,000. Finally, MCF Advisors LLC increased its holdings in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Up 0.6 %

Shares of NYSE ALL opened at $196.88 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $190.01 and its 200-day moving average price is $176.72. The stock has a market capitalization of $52.13 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 1.75 and a beta of 0.48. The Allstate Co. has a 12-month low of $131.65 and a 12-month high of $201.00.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company posted $0.81 earnings per share. Allstate’s revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. Allstate’s dividend payout ratio is currently 23.83%.

Insider Activity

In other news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This trade represents a 50.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. This represents a 77.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,049 shares of company stock valued at $26,106,112 in the last ninety days. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday. Barclays raised their target price on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods raised their target price on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Piper Sandler upped their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, UBS Group lifted their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average target price of $214.19.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.