Kovack Advisors Inc. Sells 213 Shares of The Allstate Co. (NYSE:ALL)

Kovack Advisors Inc. decreased its position in shares of The Allstate Co. (NYSE:ALL) by 16.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,061 shares of the insurance provider’s stock after selling 213 shares during the period. Kovack Advisors Inc.’s holdings in Allstate were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in shares of Allstate by 4.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,552 shares of the insurance provider’s stock valued at $2,380,000 after buying an additional 491 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Allstate by 10.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 63,579 shares of the insurance provider’s stock valued at $12,058,000 after acquiring an additional 6,234 shares during the period. Community Bank & Trust Waco Texas grew its position in Allstate by 12.2% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 5,741 shares of the insurance provider’s stock valued at $1,089,000 after acquiring an additional 626 shares during the last quarter. Haverford Trust Co increased its stake in Allstate by 1.3% in the third quarter. Haverford Trust Co now owns 11,244 shares of the insurance provider’s stock worth $2,132,000 after purchasing an additional 149 shares during the period. Finally, Empower Advisory Group LLC bought a new stake in shares of Allstate during the third quarter worth $232,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This trade represents a 50.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,049 shares of company stock valued at $26,106,112. Insiders own 1.80% of the company’s stock.

Allstate Price Performance

NYSE ALL opened at $196.88 on Friday. The Allstate Co. has a 12-month low of $131.65 and a 12-month high of $201.00. The firm’s fifty day simple moving average is $190.01 and its two-hundred day simple moving average is $176.72. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $52.13 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.75 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the company posted $0.81 EPS. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. Analysts forecast that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Piper Sandler raised their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. BMO Capital Markets boosted their price target on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. UBS Group raised their price objective on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.19.

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.