The Allstate Co. (NYSE:ALL) Stake Trimmed by Pitcairn Co.

Pitcairn Co. lowered its stake in The Allstate Co. (NYSE:ALL) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,621 shares of the insurance provider’s stock after selling 591 shares during the quarter. Pitcairn Co.’s holdings in Allstate were worth $1,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in Allstate during the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Allstate during the 3rd quarter valued at about $29,000. Versant Capital Management Inc lifted its holdings in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Allstate during the 2nd quarter valued at about $38,000. Finally, MCF Advisors LLC lifted its holdings in shares of Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

ALL opened at $203.80 on Friday. The stock has a market cap of $53.97 billion, a PE ratio of 13.20, a P/E/G ratio of 1.81 and a beta of 0.48. 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 Allstate Co. has a 1 year low of $134.17 and a 1 year high of $205.35. The stock’s 50 day simple moving average is $191.41 and its 200-day simple moving average is $177.84.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the business posted $0.81 earnings per share. Allstate’s quarterly revenue was up 14.7% on a year-over-year basis. Sell-side analysts forecast that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is 23.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. TD Cowen lifted their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group boosted their target price on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Raymond James boosted their target price on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. Evercore ISI boosted their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Finally, Roth Mkm restated a “buy” rating and issued a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $214.19.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

About Allstate

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.