Candriam S.C.A. Sells 15,222 Shares of The Allstate Corporation $ALL

Candriam S.C.A. cut its holdings in shares of The Allstate Corporation (NYSE:ALL) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 149,091 shares of the insurance provider’s stock after selling 15,222 shares during the period. Candriam S.C.A. owned 0.06% of Allstate worth $32,002,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Brighton Jones LLC boosted its stake in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Allstate during the 4th quarter valued at approximately $231,000. Callan Family Office LLC grew its holdings in shares of Allstate by 142.0% during the 2nd quarter. Callan Family Office LLC now owns 4,763 shares of the insurance provider’s stock worth $959,000 after acquiring an additional 2,795 shares during the period. IFP Advisors Inc raised its position in shares of Allstate by 73.8% in the 2nd quarter. IFP Advisors Inc now owns 1,794 shares of the insurance provider’s stock worth $361,000 after acquiring an additional 762 shares in the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of Allstate by 6.0% in the 2nd quarter. Aberdeen Group plc now owns 201,474 shares of the insurance provider’s stock valued at $40,559,000 after purchasing an additional 11,475 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. UBS Group upped their price target on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Wells Fargo & Company upped their target price on shares of Allstate from $223.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday. Mizuho lifted their price target on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a research report on Monday. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.13.

Insiders Place Their Bets

In related news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the sale, the insider owned 100,646 shares in the company, valued at approximately $21,660,025.66. This trade represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 48,400 shares of company stock worth $10,313,256 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

Allstate Stock Down 3.7%

ALL stock opened at $199.91 on Tuesday. The stock has a market capitalization of $52.31 billion, a P/E ratio of 5.23, a P/E/G ratio of 0.45 and a beta of 0.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $216.75. The business has a fifty day moving average price of $203.68 and a 200-day moving average price of $203.92.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same period last year, the firm posted $7.67 earnings per share. Allstate’s revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.2%. Allstate’s dividend payout ratio is presently 10.47%.

Allstate Company 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.