Hancock Whitney Corp Cuts Holdings in The Allstate Co. (NYSE:ALL)

Hancock Whitney Corp decreased its stake in The Allstate Co. (NYSE:ALL) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,224 shares of the insurance provider’s stock after selling 811 shares during the period. Hancock Whitney Corp’s holdings in Allstate were worth $14,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Allstate in the third quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new stake in Allstate in the 3rd quarter worth approximately $29,000. Versant Capital Management Inc grew its position in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. bought a new stake in Allstate in the second quarter worth $38,000. Finally, MCF Advisors LLC boosted its holdings in Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In related news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 57.06 % 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. Corporate insiders own 1.80% of the company’s stock.

Allstate Price Performance

NYSE ALL opened at $203.80 on Monday. The stock has a market cap of $53.97 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 12 month low of $134.17 and a 12 month high of $205.35. The company’s 50 day moving average is $191.41 and its two-hundred day moving average is $177.90. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 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 business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue was up 14.7% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Co. will post 16.07 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio is presently 23.83%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALL shares. BMO Capital Markets raised their target price on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wells Fargo & Company upped their target price on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods raised their target price on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research note 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 report on Friday, August 16th. Finally, Bank of America lifted their target price on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

Allstate Profile

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.