Northwestern Mutual Wealth Management Co. Decreases Stock Position in The Allstate Corporation $ALL

Northwestern Mutual Wealth Management Co. reduced its position in The Allstate Corporation (NYSE:ALL) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,895 shares of the insurance provider’s stock after selling 2,950 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Allstate were worth $13,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in Allstate during the 4th quarter valued at $25,000. Gables Capital Management Inc. acquired a new position in Allstate in the second quarter valued at approximately $26,000. Navalign LLC bought a new position in Allstate during the 4th quarter worth $27,000. Kelleher Financial Advisors bought a new position in shares of Allstate during the second quarter worth about $28,000. Finally, Evolution Wealth Management Inc. grew its position in Allstate by 7,000.0% in the 1st 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. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 0.6%

Shares of ALL stock opened at $259.51 on Thursday. The stock’s 50 day simple moving average is $255.88 and its 200 day simple moving average is $228.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The company has a market capitalization of $65.62 billion, a price-to-earnings ratio of 5.18, a PEG ratio of 0.59 and a beta of 0.15.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.94 EPS. As a group, research analysts predict that The Allstate Corporation will post 34.78 EPS for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s payout ratio is 8.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALL. UBS Group raised their price target on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Atlantic Securities set a $319.00 price target on Allstate in a report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective on Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $280.00 price target on shares of Allstate in a research report on Friday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Hold” and a consensus target price of $263.90.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by corporate insiders.

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.