Benjamin Edwards Inc. Cuts Stock Holdings in The Allstate Co. (NYSE:ALL)

Benjamin Edwards Inc. lowered its stake in The Allstate Co. (NYSE:ALL) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,226 shares of the insurance provider’s stock after selling 169 shares during the period. Benjamin Edwards Inc.’s holdings in Allstate were worth $592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Allstate in the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Allstate in the 4th quarter worth $36,000. Venturi Wealth Management LLC increased its position in shares of Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 168 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Allstate during the fourth quarter valued at about $43,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Allstate during the third quarter valued at about $48,000. Institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALL shares. Piper Sandler boosted their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. TD Cowen started coverage on Allstate in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price target for the company. BMO Capital Markets lifted their price target on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a report on Friday, January 19th. Evercore ISI lifted their price target on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.18.

Allstate Stock Down 0.6 %

Shares of ALL stock traded down $1.00 during mid-day trading on Friday, reaching $168.18. 1,667,842 shares of the company’s stock traded hands, compared to its average volume of 1,686,415. The company has a market cap of $44.24 billion, a P/E ratio of 37.13, a P/E/G ratio of 0.41 and a beta of 0.51. The company’s 50-day moving average price is $165.88 and its 200-day moving average price is $150.65. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $177.37. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 15.14%. Allstate’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.30) EPS. On average, equities analysts expect that The Allstate Co. will post 13.83 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.92 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 2.19%. Allstate’s payout ratio is 81.24%.

Allstate Company 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.