The Allstate Corporation $ALL Stake Reduced by Vestcor Inc

Vestcor Inc cut its stake in The Allstate Corporation (NYSE:ALL) by 27.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,241 shares of the insurance provider’s stock after selling 23,157 shares during the period. Vestcor Inc’s holdings in Allstate were worth $13,360,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ALL. Harbor Capital Advisors Inc. grew its position in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC lifted its position in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. Clearstead Trust LLC boosted its stake in Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 152 shares during the period. Armstrong Advisory Group Inc. grew its position in Allstate by 72.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 67 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Allstate in the third quarter valued at approximately $37,000. 76.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALL. Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. Citigroup lifted their target price on Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. UBS Group boosted their price target on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Finally, TD Cowen lowered Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $238.88.

Allstate Stock Performance

ALL opened at $212.56 on Monday. The business has a 50 day moving average price of $204.65 and a two-hundred day moving average price of $204.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $55.17 billion, a price-to-earnings ratio of 5.57, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $216.75.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same period last year, the firm earned $7.67 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is presently 11.31%.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.