Bank OZK Reduces Position in The Allstate Co. (NYSE:ALL)

Bank OZK lowered its holdings in The Allstate Co. (NYSE:ALL) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,271 shares of the insurance provider’s stock after selling 90 shares during the period. Bank OZK’s holdings in Allstate were worth $878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after purchasing an additional 3,322,673 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Allstate by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock valued at $660,318,000 after purchasing an additional 172,250 shares during the period. Bank of New York Mellon Corp grew its position in shares of Allstate by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 4,239,513 shares of the insurance provider’s stock valued at $472,324,000 after purchasing an additional 53,821 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Allstate by 23.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after purchasing an additional 782,696 shares during the period. Finally, Invesco Ltd. grew its position in shares of Allstate by 46.6% in the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after purchasing an additional 1,311,095 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 1.3 %

Shares of ALL traded down $2.27 during midday trading on Friday, reaching $170.07. 1,279,038 shares of the company were exchanged, compared to its average volume of 1,336,406. The stock has a 50-day moving average price of $165.09 and a 200-day moving average price of $149.14. The Allstate Co. has a 1-year low of $100.57 and a 1-year high of $176.93. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping the consensus estimate of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The business had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. During the same quarter in the previous year, the firm posted ($1.36) earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. On average, analysts expect that The Allstate Co. will post 13.44 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.92 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.16%. Allstate’s payout ratio is -296.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. TheStreet raised Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Evercore ISI boosted their price target on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler boosted their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Roth Mkm boosted their price target on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value 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 $10,847,016.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, 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. Insiders own 1.80% of the company’s stock.

Allstate Profile

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.