The Allstate Corporation $ALL Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of The Allstate Corporation (NYSE:ALL) by 0.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,141,983 shares of the insurance provider’s stock after selling 93,248 shares during the quarter. Vanguard Group Inc. owned 0.13% of Allstate worth $7,113,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank bought a new position in Allstate in the 2nd quarter valued at about $482,870,000. Swedbank AB increased its stake in shares of Allstate by 2,157.8% during the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after acquiring an additional 823,559 shares during the period. Ameriprise Financial Inc. raised its holdings in Allstate by 52.7% during the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after purchasing an additional 478,598 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Allstate in the second quarter worth approximately $68,590,000. Finally, First Trust Advisors LP boosted its holdings in Allstate by 67.6% during the second quarter. First Trust Advisors LP now owns 773,998 shares of the insurance provider’s stock worth $155,814,000 after buying an additional 312,237 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of ALL opened at $207.41 on Tuesday. The stock has a market cap of $54.28 billion, a P/E ratio of 5.43, a P/E/G ratio of 0.44 and a beta of 0.24. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75. The business’s fifty day moving average is $203.67 and its 200 day moving average is $204.27. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (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 during the quarter, compared to analyst estimates of $17.23 billion. During the same period in the prior year, the company posted $7.67 earnings per share. Allstate’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio (DPR) is 10.47%.

Analysts Set New Price Targets

ALL has been the subject of several recent analyst reports. BMO Capital Markets upped their price target on Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $238.00 price target on shares of Allstate in a research note on Saturday, February 7th. Roth Mkm increased their price target on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Finally, Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $239.35.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider directly owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 46,600 shares of company stock valued at $9,926,140. Company insiders own 1.70% of the company’s stock.

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.