Estabrook Capital Management Reduces Stock Holdings in The Allstate Co. (NYSE:ALL)

Estabrook Capital Management lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,624 shares of the insurance provider’s stock after selling 170 shares during the period. Estabrook Capital Management’s holdings in Allstate were worth $1,399,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALL. Cowa LLC purchased a new stake in shares of Allstate during the first quarter worth $30,000. CVA Family Office LLC lifted its position in shares of Allstate by 48.4% during the first quarter. CVA Family Office LLC now owns 282 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 92 shares in the last quarter. Kalos Management Inc. bought a new position in shares of Allstate in the first quarter worth $39,000. OLD Mission Capital LLC bought a new position in shares of Allstate in the fourth quarter worth $41,000. Finally, Carmel Capital Partners LLC bought a new position in shares of Allstate in the first quarter worth $48,000. Hedge funds and other institutional investors own 77.23% of the company’s stock.

Allstate Trading Up 2.3 %

Shares of NYSE:ALL traded up $2.51 on Friday, reaching $110.32. 440,714 shares of the company traded hands, compared to its average volume of 1,856,800. The business’s 50-day simple moving average is $108.40 and its 200 day simple moving average is $113.73. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $142.15. The stock has a market capitalization of $28.86 billion, a P/E ratio of -10.42 and a beta of 0.57. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.59.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported ($4.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.83) by ($0.59). The company had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $12.30 billion. Allstate had a negative net margin of 4.80% and a negative return on equity of 14.69%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business posted ($0.76) earnings per share. As a group, equities analysts anticipate that The Allstate Co. will post -1.99 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 3.23%. Allstate’s dividend payout ratio is currently -34.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ALL shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $117.00 price target on shares of Allstate in a report on Tuesday, August 1st. Barclays decreased their price target on shares of Allstate from $113.00 to $107.00 and set an “equal weight” rating on the stock in a report on Monday, August 14th. Bank of America reduced their target price on Allstate from $143.00 to $138.00 in a research note on Wednesday, August 2nd. Raymond James reduced their target price on Allstate from $155.00 to $145.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 3rd. Finally, Piper Sandler reduced their target price on Allstate from $137.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.31.

Insider Transactions at Allstate

In other news, Director Judith A. Sprieser sold 1,565 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $111.22, for a total transaction of $174,059.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.