The Allstate Co. (NYSE:ALL) Stake Cut by First Horizon Advisors Inc.

First Horizon Advisors Inc. cut its position in shares of The Allstate Co. (NYSE:ALLGet Rating) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,376 shares of the insurance provider’s stock after selling 7,231 shares during the quarter. First Horizon Advisors Inc.’s holdings in Allstate were worth $6,514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its position in Allstate by 8.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,199 shares of the insurance provider’s stock worth $141,000 after buying an additional 97 shares during the period. Mariner LLC increased its position in Allstate by 4.7% in the third quarter. Mariner LLC now owns 21,934 shares of the insurance provider’s stock worth $2,792,000 after buying an additional 986 shares during the period. Captrust Financial Advisors increased its position in Allstate by 8.8% in the third quarter. Captrust Financial Advisors now owns 164,870 shares of the insurance provider’s stock worth $21,115,000 after buying an additional 13,337 shares during the period. Lorne Steinberg Wealth Management Inc. increased its position in Allstate by 1.6% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 45,755 shares of the insurance provider’s stock worth $5,825,000 after buying an additional 700 shares during the period. Finally, F&V Capital Management LLC increased its holdings in shares of Allstate by 13.5% during the fourth quarter. F&V Capital Management LLC now owns 75,605 shares of the insurance provider’s stock valued at $8,895,000 after purchasing an additional 8,995 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.

A number of research analysts have recently commented on ALL shares. UBS Group raised Allstate from a “neutral” rating to a “buy” rating and raised their price target for the company from $126.00 to $149.00 in a report on Monday, February 14th. Raymond James raised Allstate from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $145.00 to $165.00 in a report on Friday, March 18th. Credit Suisse Group started coverage on Allstate in a report on Thursday, April 28th. They set an “outperform” rating and a $188.00 price target on the stock. Piper Sandler lowered their price target on Allstate from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, April 22nd. Finally, Morgan Stanley lifted their target price on Allstate from $140.00 to $152.00 and gave the stock an “equal weight” rating in a report on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.21.

Shares of NYSE:ALL traded down $1.90 during midday trading on Thursday, reaching $131.78. The company had a trading volume of 80,887 shares, compared to its average volume of 1,652,292. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.42 and a current ratio of 0.42. The Allstate Co. has a 1-year low of $106.11 and a 1-year high of $144.46. The firm has a market cap of $36.68 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82. The company has a fifty day simple moving average of $133.31 and a two-hundred day simple moving average of $123.94.

Allstate (NYSE:ALLGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.21). Allstate had a net margin of 3.16% and a return on equity of 16.60%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $11.14 billion. During the same quarter last year, the business earned $6.11 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts expect that The Allstate Co. will post 9.91 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Monday, February 28th were given a dividend of $0.85 per share. The ex-dividend date was Friday, February 25th. This is a positive change from Allstate’s previous quarterly dividend of $0.81. This represents a $3.40 dividend on an annualized basis and a yield of 2.58%. Allstate’s dividend payout ratio (DPR) is presently 66.67%.

In other Allstate news, CAO John C. Pintozzi sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $123.87, for a total transaction of $371,610.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 1,652 shares of Allstate stock in a transaction dated Friday, February 4th. The shares were sold at an average price of $121.25, for a total value of $200,305.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,300 shares of company stock valued at $3,715,590 over the last 90 days. Corporate insiders own 1.56% of the company’s stock.

Allstate Company Profile (Get Rating)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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