The Allstate Co. (NYSE:ALL) Position Reduced by Alesco Advisors LLC

Alesco Advisors LLC cut its position in shares of The Allstate Co. (NYSE:ALL) by 14.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,777 shares of the insurance provider’s stock after selling 625 shares during the period. Alesco Advisors LLC’s holdings in Allstate were worth $529,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Allstate by 11.5% during 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 buying an additional 3,322,673 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Allstate by 3.0% in the 3rd 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 increased its holdings in shares of Allstate by 1.3% in the 3rd 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. increased its holdings in shares of Allstate by 23.0% in the 3rd 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. increased its holdings in shares of Allstate by 46.6% in the 3rd 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. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Performance

ALL stock traded down $2.34 during midday trading on Friday, hitting $170.00. 1,279,025 shares of the company traded hands, compared to its average volume of 1,680,547. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $176.93. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The business has a 50 day simple moving average of $165.09 and a 200-day simple moving average of $149.14. The stock has a market capitalization of $44.72 billion, a price-to-earnings ratio of -137.10, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating 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 company had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. During the same quarter last year, the company posted ($1.36) earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that The Allstate Co. will post 13.44 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio (DPR) is -296.77%.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of research reports. Morgan Stanley upped their target price on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company upped their target price on Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Evercore ISI upped their target price on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and upped their target price for the company from $158.00 to $190.00 in a report on Thursday, March 28th. Finally, Piper Sandler increased their price objective on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.71.

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.