The Allstate Co. (NYSE:ALL) Position Reduced by Cadence Bank

Cadence Bank lessened its position in The Allstate Co. (NYSE:ALL) by 2.1% in the 3rd quarter, Holdings Channel reports. The fund owned 11,964 shares of the insurance provider’s stock after selling 255 shares during the period. Cadence Bank’s holdings in Allstate were worth $2,269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the third quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Allstate in the 3rd quarter valued at about $29,000. Versant Capital Management Inc lifted its position in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. purchased a new position in Allstate during the second quarter valued at approximately $38,000. Finally, MCF Advisors LLC increased its stake in Allstate by 33.9% in 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 period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALL. Evercore ISI increased their price objective on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Jefferies Financial Group raised their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Morgan Stanley increased their price objective on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group lifted their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, two 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Allstate Stock Performance

ALL opened at $207.80 on Wednesday. The Allstate Co. has a 12-month low of $134.17 and a 12-month high of $208.23. The firm has a market capitalization of $55.03 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The stock’s 50 day moving average price is $191.99 and its two-hundred day moving average price is $178.36. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

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, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Allstate’s revenue was up 14.7% compared to the same quarter last year. On average, equities analysts forecast that The Allstate Co. will post 16.07 earnings per share for the current 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 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is presently 23.83%.

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.