Peterson Wealth Services Sells 479 Shares of The Allstate Co. (NYSE:ALL)

Peterson Wealth Services lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,585 shares of the insurance provider’s stock after selling 479 shares during the period. Peterson Wealth Services’ holdings in Allstate were worth $222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ellsworth Advisors LLC purchased a new stake in shares of Allstate during the 4th quarter valued at $4,312,000. SteelPeak Wealth LLC raised its stake in Allstate by 175.2% in the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock worth $2,209,000 after acquiring an additional 9,984 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Allstate by 484.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock worth $46,488,000 after acquiring an additional 275,319 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Allstate by 214.6% in the 4th quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock worth $220,000 after acquiring an additional 1,071 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Allstate by 88.7% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock worth $3,429,000 after acquiring an additional 11,512 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

ALL has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. TheStreet raised Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Jefferies Financial Group raised Allstate from a “hold” rating to a “buy” rating and increased their price target for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. JPMorgan Chase & Co. increased 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, UBS Group increased their price target on Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $173.71.

Insiders Place Their Bets

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

Allstate Stock Performance

Shares of NYSE:ALL traded up $6.49 on Thursday, reaching $169.41. The company’s stock had a trading volume of 637,712 shares, compared to its average volume of 1,665,971. The stock’s 50-day moving average is $163.44 and its two-hundred day moving average is $146.44. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $174.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (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 during the quarter, compared to analysts’ expectations of $12.69 billion. During the same period in the prior year, the company posted ($1.36) earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that The Allstate Co. will post 13.5 earnings per share for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio is presently -296.77%.

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.