Insight Inv LLC Cuts Stock Position in The Allstate Corporation $ALL

Insight Inv LLC lessened its holdings in The Allstate Corporation (NYSE:ALL) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,880 shares of the insurance provider’s stock after selling 238 shares during the period. Allstate comprises approximately 1.7% of Insight Inv LLC’s holdings, making the stock its 16th biggest holding. Insight Inv LLC’s holdings in Allstate were worth $2,593,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group raised its holdings in Allstate by 3.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock worth $338,000 after buying an additional 51 shares during the period. Vantage Point Financial LLC grew its stake in shares of Allstate by 3.6% during the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock worth $310,000 after acquiring an additional 52 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in shares of Allstate by 0.7% during the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock worth $1,558,000 after acquiring an additional 54 shares in the last quarter. Linscomb Wealth Inc. grew its stake in shares of Allstate by 1.3% during the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after acquiring an additional 54 shares in the last quarter. Finally, Ancora Advisors LLC grew its stake in shares of Allstate by 0.7% during the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock worth $1,740,000 after acquiring an additional 55 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 0.3%

Shares of NYSE:ALL opened at $212.46 on Thursday. The stock has a fifty day simple moving average of $205.82 and a two-hundred day simple moving average of $201.13. The stock has a market capitalization of $55.99 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 0.82 and a beta of 0.38. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.70. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th were paid a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate’s payout ratio is currently 18.81%.

Analyst Upgrades and Downgrades

ALL has been the subject of several research reports. Roth Capital set a $230.00 price target on shares of Allstate and gave the stock a “buy” rating in a research note on Friday, September 26th. Cantor Fitzgerald raised shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price target (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company set a $202.00 target price on Allstate and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $232.50.

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.