Cwm LLC Cuts Position in The Allstate Co. (NYSE:ALL)

Cwm LLC trimmed its position in shares of The Allstate Co. (NYSE:ALL) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 232,023 shares of the insurance provider’s stock after selling 26,407 shares during the period. Cwm LLC owned about 0.09% of Allstate worth $32,479,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on ALL. Keefe, Bruyette & Woods increased their price target on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group increased their price objective on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and raised their target price for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. Wells Fargo & Company raised their target price on shares of Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Finally, Piper Sandler raised their target price on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.71.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the business’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 of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Allstate Stock Up 2.3 %

ALL traded up $3.85 during midday trading on Friday, hitting $172.96. The company’s stock had a trading volume of 2,368,220 shares, compared to its average volume of 1,362,966. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $163.84 and a two-hundred day moving average price of $147.29. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $174.57.

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

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.92 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.13%. Allstate’s payout ratio is -296.77%.

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.