Transform Wealth LLC lessened its position in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,088 shares of the insurance provider’s stock after selling 665 shares during the period. Transform Wealth LLC’s holdings in Allstate were worth $3,583,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of ALL. Vanguard Group Inc. increased its holdings in shares of Allstate by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,850,782 shares of the insurance provider’s stock worth $3,442,082,000 after buying an additional 745,096 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Allstate by 2.2% in the 4th quarter. Deutsche Bank AG now owns 4,997,180 shares of the insurance provider’s stock worth $587,916,000 after buying an additional 107,977 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Allstate by 37.0% in the 1st quarter. American Century Companies Inc. now owns 4,341,890 shares of the insurance provider’s stock worth $601,395,000 after buying an additional 1,171,615 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Allstate by 15.3% in the 1st quarter. Nordea Investment Management AB now owns 2,899,486 shares of the insurance provider’s stock worth $408,538,000 after buying an additional 385,046 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Allstate in the 4th quarter worth $290,333,000. Institutional investors own 76.17% of the company’s stock.
Insider Transactions at Allstate
In other news, EVP Mark Q. Prindiville sold 5,511 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $125.93, for a total value of $694,000.23. Following the completion of the sale, the executive vice president now directly owns 15,552 shares of the company’s stock, valued at approximately $1,958,463.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.77% of the company’s stock.
Allstate Trading Down 0.9 %
Allstate (NYSE:ALL – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.50. The business had revenue of $12.95 billion during the quarter, compared to analysts’ expectations of $12.16 billion. Allstate had a net margin of 1.99% and a return on equity of 7.53%. During the same quarter in the prior year, the company posted $3.79 EPS. Equities research analysts anticipate that The Allstate Co. will post 5.13 EPS for the current year.
Allstate Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.68%. Allstate’s dividend payout ratio is 118.47%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on ALL. Raymond James decreased their price target on shares of Allstate from $165.00 to $155.00 in a report on Thursday, July 21st. Evercore ISI increased their target price on shares of Allstate to $126.00 in a report on Tuesday, August 9th. Barclays reduced their target price on shares of Allstate from $123.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, August 8th. TheStreet raised shares of Allstate from a “c+” rating to a “b-” rating in a report on Friday, September 16th. Finally, Wells Fargo & Company reduced their target price on shares of Allstate from $116.00 to $110.00 and set an “underweight” rating on the stock in a report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.00.
Allstate Company Profile
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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