The Allstate Corporation $ALL Shares Sold by KBC Group NV

KBC Group NV lowered its stake in shares of The Allstate Corporation (NYSE:ALL) by 13.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 270,954 shares of the insurance provider’s stock after selling 41,779 shares during the period. KBC Group NV’s holdings in Allstate were worth $56,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter worth approximately $25,000. Dorato Capital Management acquired a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Navalign LLC purchased a new stake in shares of Allstate during the fourth quarter worth approximately $27,000. Evolution Wealth Management Inc. raised its stake in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Allstate during the first quarter worth $30,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Up 1.5%

Shares of ALL stock opened at $253.73 on Tuesday. The business’s fifty day moving average price is $228.09 and its 200 day moving average price is $214.72. The firm has a market capitalization of $65.32 billion, a PE ratio of 5.60, a P/E/G ratio of 0.43 and a beta of 0.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $257.67.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.53 earnings per share. As a group, sell-side analysts forecast that The Allstate Corporation will post 30.4 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio (DPR) is 9.53%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALL shares. Raymond James Financial lifted their price objective on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Monday, July 6th. Atlantic Securities set a $319.00 target price on shares of Allstate in a research note on Wednesday, July 15th. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and lifted their target price for the company from $244.00 to $264.00 in a report on Monday, July 6th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Evercore set a $240.00 price target on shares of Allstate in a report on Friday, July 10th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.80.

Insider Buying and Selling

In other news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 22,353 shares of company stock valued at $4,851,560. Corporate insiders own 1.55% of the company’s stock.

About Allstate

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.