King Luther Capital Management Corp Sells 3,686 Shares of The Allstate Corporation $ALL

King Luther Capital Management Corp lowered its stake in shares of The Allstate Corporation (NYSE:ALL) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,159 shares of the insurance provider’s stock after selling 3,686 shares during the period. King Luther Capital Management Corp’s holdings in Allstate were worth $23,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ALL. Brighton Jones LLC raised its position in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Allstate during the 4th quarter valued at approximately $231,000. WINTON GROUP Ltd purchased a new position in Allstate during the 2nd quarter valued at approximately $210,000. Treasurer of the State of North Carolina grew its holdings in Allstate by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after buying an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in Allstate by 20.1% during the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after buying an additional 6,412 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by company insiders.

Allstate Price Performance

NYSE:ALL opened at $208.90 on Thursday. The firm has a market capitalization of $53.78 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 0.38 and a beta of 0.21. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62. The business has a 50 day simple moving average of $212.66 and a 200-day simple moving average of $208.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company earned $3.53 EPS. Equities analysts forecast that The Allstate Corporation will post 29.28 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

Analyst Upgrades and Downgrades

ALL has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price target on Allstate from $260.00 to $266.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Mizuho cut their price target on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average price target of $241.67.

Allstate Profile

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.