Principal Financial Group Inc. Reduces Holdings in The Allstate Corporation $ALL

Principal Financial Group Inc. reduced its stake in The Allstate Corporation (NYSE:ALL) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 307,877 shares of the insurance provider’s stock after selling 7,888 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Allstate worth $66,086,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its holdings in shares of Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC increased its position in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 73 shares during the period. Clearstead Trust LLC raised its stake in Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 152 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 126 shares during the period. Finally, Hilltop National Bank purchased a new stake in Allstate during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 0.5%

Shares of Allstate stock opened at $201.77 on Wednesday. The firm has a 50-day simple moving average of $204.11 and a two-hundred day simple moving average of $203.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.89. The company has a market cap of $52.80 billion, a P/E ratio of 6.53, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating the consensus estimate of $5.48 by $5.69. The firm had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.Allstate’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 EPS. As a group, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were given a $1.00 dividend. The ex-dividend date was Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Allstate’s payout ratio is 12.95%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. The Goldman Sachs Group set a $227.00 price objective on Allstate in a research note on Wednesday, January 7th. Wells Fargo & Company raised their price target on shares of Allstate from $216.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $215.00 price objective (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. UBS Group raised their target price on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Mizuho set a $255.00 target price on shares of Allstate in a research report on Wednesday, January 14th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $236.19.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 21,871 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, the insider owned 100,646 shares in the company, valued at $21,660,025.66. This trade represents a 17.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 48,400 shares of company stock worth $10,313,256. Corporate insiders own 1.70% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.