Worldquant Millennium Advisors LLC decreased its position in The Allstate Co. (NYSE:ALL – Free Report) by 2.8% during the 3rd quarter, Holdings Channel reports. The firm owned 308,727 shares of the insurance provider’s stock after selling 8,842 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Allstate were worth $58,550,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SPC Financial Inc. raised its stake in shares of Allstate by 3.6% during the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after acquiring an additional 54 shares during the last quarter. Lake Street Advisors Group LLC raised its position in Allstate by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after purchasing an additional 54 shares during the last quarter. Abacus Planning Group Inc. raised its position in Allstate by 2.4% during the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Allstate by 1.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after buying an additional 59 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. increased its stake in shares of Allstate by 15.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after buying an additional 60 shares during the period. 76.47% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on ALL shares. The Goldman Sachs Group boosted their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler raised their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Finally, Bank of America raised their target price on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $217.19.
Allstate Price Performance
NYSE ALL opened at $204.23 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $54.08 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.79 and a beta of 0.50. The stock has a 50-day moving average of $194.09 and a 200 day moving average of $180.03. The Allstate Co. has a one year low of $134.17 and a one year high of $209.88.
Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. On average, sell-side analysts forecast that The Allstate Co. will post 16.26 EPS for the current year.
Allstate Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 annualized dividend and a yield of 1.80%. Allstate’s payout ratio is 23.83%.
Insider Buying and Selling at Allstate
In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 27,364 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
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.
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