The Allstate Co. (NYSE:ALL) Position Lessened by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL decreased its position in shares of The Allstate Co. (NYSE:ALL) by 2.7% in the third quarter, HoldingsChannel reports. The firm owned 53,889 shares of the insurance provider’s stock after selling 1,500 shares during the quarter. Allstate accounts for 3.7% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 5th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Allstate were worth $10,220,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in shares of Allstate in the second quarter worth $476,000. Eagle Asset Management Inc. grew its position in Allstate by 38.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after purchasing an additional 2,888 shares during the period. Bank of Montreal Can lifted its holdings in shares of Allstate by 1.7% in the 3rd quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider’s stock valued at $128,758,000 after buying an additional 11,195 shares during the period. Blueshift Asset Management LLC purchased a new stake in shares of Allstate in the third quarter worth about $623,000. Finally, Hsbc Holdings PLC grew its holdings in Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after acquiring an additional 31,789 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 1.5 %

Shares of NYSE ALL traded up $2.85 on Friday, reaching $195.15. 143,320 shares of the company traded hands, compared to its average volume of 1,543,318. The stock has a market capitalization of $51.68 billion, a PE ratio of 12.45, a P/E/G ratio of 1.70 and a beta of 0.50. The Allstate Co. has a fifty-two week low of $134.17 and a fifty-two week high of $209.88. 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 company has a 50 day moving average of $194.84 and a 200 day moving average of $181.08.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business earned $0.81 EPS. Allstate’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that The Allstate Co. will post 16.26 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.89%. Allstate’s dividend payout ratio is presently 23.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ALL shares. Wells Fargo & Company lifted their price objective on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Jefferies Financial Group lifted their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays raised their target price on shares of Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Finally, StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $217.19.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate 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 owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

Allstate Company 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.