Raymond James & Associates Reduces Stock Position in The Allstate Co. (NYSE:ALL)

Raymond James & Associates lowered its holdings in shares of The Allstate Co. (NYSE:ALL) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,376,823 shares of the insurance provider’s stock after selling 21,009 shares during the quarter. Raymond James & Associates owned 0.52% of Allstate worth $238,204,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ALL. Vanguard Group Inc. boosted its holdings in Allstate by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after acquiring an additional 3,322,673 shares during the period. Norges Bank purchased a new stake in shares of Allstate in the 4th quarter worth $212,771,000. Invesco Ltd. lifted its holdings in shares of Allstate by 46.6% in the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after buying an additional 1,311,095 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of Allstate by 23.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock worth $466,163,000 after buying an additional 782,696 shares during the period. Finally, Palestra Capital Management LLC purchased a new stake in shares of Allstate in the 4th quarter worth $83,561,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Roth Mkm boosted their price target on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price target on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on Allstate from $172.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Piper Sandler boosted their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Stock Performance

Allstate stock traded down $2.27 during trading hours on Friday, hitting $170.07. 1,279,038 shares of the stock traded hands, compared to its average volume of 1,336,406. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The firm’s 50 day moving average price is $165.09 and its 200-day moving average price is $149.63. The stock has a market capitalization of $44.74 billion, a price-to-earnings ratio of -137.15, a P/E/G ratio of 0.42 and a beta of 0.52. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $176.93.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating the consensus estimate of $3.87 by $1.95. The business had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.36) EPS. As a group, equities analysts expect that The Allstate Co. will post 13.44 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. Allstate’s payout ratio is presently -296.77%.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the company’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 sale, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

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.