Cullen Frost Bankers Inc. Sells 1,133 Shares of The Allstate Co. (NYSE:ALL)

Cullen Frost Bankers Inc. lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,208 shares of the insurance provider’s stock after selling 1,133 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Allstate were worth $1,009,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ALL. Annis Gardner Whiting Capital Advisors LLC bought a new position in Allstate during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Allstate in the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC boosted its position in shares of Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 168 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Allstate in the fourth quarter valued at approximately $43,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Allstate in the third quarter valued at approximately $48,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALL shares. BMO Capital Markets lifted their target price on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research report on Friday, January 19th. TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Roth Mkm lifted their target price on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. UBS Group lifted their target price on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Morgan Stanley lifted their price target on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.18.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Allstate Stock Up 0.7 %

Shares of ALL stock opened at $171.46 on Friday. The stock has a 50 day moving average of $166.64 and a 200 day moving average of $152.04. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a market cap of $45.25 billion, a P/E ratio of 37.85, a P/E/G ratio of 0.39 and a beta of 0.51. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $177.37.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The firm had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted ($1.30) earnings per share. As a group, sell-side analysts expect that The Allstate Co. will post 14.57 EPS for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. Allstate’s payout ratio is currently 81.24%.

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.