Investment Partners LTD. Cuts Stake in The Allstate Co. (NYSE:ALL)

Investment Partners LTD. lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,322 shares of the insurance provider’s stock after selling 221 shares during the period. Investment Partners LTD.’s holdings in Allstate were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ALL. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Allstate during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Allstate during the 4th quarter valued at about $36,000. Venturi Wealth Management LLC grew its stake in Allstate by 152.7% during the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 168 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Allstate during the 4th quarter valued at about $43,000. Finally, First Command Advisory Services Inc. purchased a new stake in Allstate during the 3rd quarter valued at about $48,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Allstate Stock Performance

Shares of ALL stock traded down $2.27 during trading hours on Friday, hitting $170.07. The company had a trading volume of 1,279,038 shares, compared to its average volume of 1,336,406. The company’s fifty day moving average is $165.09 and its 200 day moving average is $149.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $176.93.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping the consensus estimate of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. During the same period in the prior year, the business posted ($1.36) EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that The Allstate Co. will post 13.44 earnings per share for the current year.

Allstate Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALL shares. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and upped their price objective for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. Piper Sandler upped their price objective on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Morgan Stanley upped their price objective on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Raymond James upped their price objective on shares of Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research note on Monday, January 22nd. Finally, Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.71.

Allstate 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.