Evoke Wealth LLC reduced its stake in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 10.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,642 shares of the insurance provider’s stock after selling 201 shares during the period. Evoke Wealth LLC’s holdings in Allstate were worth $229,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ALL. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Allstate during the 4th quarter valued at $560,036,000. Norges Bank purchased a new position in shares of Allstate during the 4th quarter valued at $290,333,000. Invesco Ltd. grew its holdings in shares of Allstate by 22.2% during the 4th quarter. Invesco Ltd. now owns 7,232,598 shares of the insurance provider’s stock valued at $850,916,000 after acquiring an additional 1,314,237 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Allstate by 42.4% during the 4th quarter. American Century Companies Inc. now owns 3,170,275 shares of the insurance provider’s stock valued at $372,983,000 after acquiring an additional 944,202 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Allstate by 22.5% during the 4th quarter. First Trust Advisors LP now owns 3,660,008 shares of the insurance provider’s stock valued at $430,600,000 after acquiring an additional 672,472 shares in the last quarter. 75.84% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Thomas J. Wilson sold 142,000 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $133.39, for a total value of $18,941,380.00. Following the completion of the transaction, the chief executive officer now owns 99,828 shares of the company’s stock, valued at $13,316,056.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.77% of the company’s stock.
Allstate Stock Up 1.5 %
Allstate (NYSE:ALL – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The insurance provider reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.50. Allstate had a net margin of 1.99% and a return on equity of 7.53%. The business had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.16 billion. During the same quarter in the prior year, the business earned $3.79 earnings per share. On average, equities research analysts expect that The Allstate Co. will post 4.78 earnings per share for the current year.
Allstate Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Wednesday, August 31st will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, August 30th. Allstate’s dividend payout ratio (DPR) is presently 118.47%.
Wall Street Analyst Weigh In
ALL has been the subject of a number of recent research reports. Piper Sandler decreased their price objective on shares of Allstate from $150.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, April 22nd. TheStreet cut shares of Allstate from a “b” rating to a “c+” rating in a report on Wednesday, August 3rd. Citigroup initiated coverage on shares of Allstate in a report on Monday, May 23rd. They issued a “buy” rating and a $159.00 price objective for the company. Argus cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Friday, May 20th. Finally, Wells Fargo & Company cut their target price on shares of Allstate from $116.00 to $110.00 and set an “underweight” rating for the company in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.00.
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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