The Allstate Co. (NYSE:ALL) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 56.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,822 shares of the insurance provider’s stock after selling 11,542 shares during the quarter. Fulton Bank N.A.’s holdings in Allstate were worth $962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Allstate by 40.2% during the 1st quarter. Sei Investments Co. now owns 187,869 shares of the insurance provider’s stock valued at $26,022,000 after acquiring an additional 53,824 shares in the last quarter. Prudential PLC bought a new stake in Allstate during the 1st quarter valued at $1,325,000. Cetera Investment Advisers raised its stake in Allstate by 13.9% during the 1st quarter. Cetera Investment Advisers now owns 23,536 shares of the insurance provider’s stock valued at $3,260,000 after acquiring an additional 2,874 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of Allstate in the 1st quarter worth $270,000. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Allstate by 36.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,237 shares of the insurance provider’s stock worth $448,000 after buying an additional 860 shares in the last quarter. Institutional investors and hedge funds own 77.23% of the company’s stock.

Allstate Trading Down 1.6 %

Shares of ALL stock opened at $108.78 on Friday. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $142.15. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $108.30 and its two-hundred day moving average is $111.92. The company has a market cap of $28.45 billion, a PE ratio of -10.51 and a beta of 0.57.

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

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be given a $0.89 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.56 annualized dividend and a dividend yield of 3.27%. Allstate’s dividend payout ratio is -34.40%.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 1,565 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $111.22, for a total value of $174,059.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on ALL shares. Barclays dropped their price objective on Allstate from $113.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday, August 14th. StockNews.com started coverage on Allstate in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Morgan Stanley reissued an “equal weight” rating and set a $117.00 price target on shares of Allstate in a research report on Tuesday, August 1st. Piper Sandler dropped their target price on Allstate from $137.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Finally, JPMorgan Chase & Co. dropped their target price on Allstate from $162.00 to $154.00 and set an “overweight” rating on the stock in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.31.

Allstate Profile

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.