Ferguson Wellman Capital Management Inc. Lowers Position in The Allstate Co. (NYSE:ALL)

Ferguson Wellman Capital Management Inc. lessened its holdings in The Allstate Co. (NYSE:ALL) by 16.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,240 shares of the insurance provider’s stock after selling 8,414 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Allstate were worth $4,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALL. Cowa LLC purchased a new stake in shares of Allstate in the first quarter worth $30,000. CVA Family Office LLC raised its position in Allstate by 48.4% during the first quarter. CVA Family Office LLC now owns 282 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 92 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in Allstate during the first quarter valued at about $33,000. Kalos Management Inc. purchased a new stake in Allstate during the first quarter valued at about $39,000. Finally, OLD Mission Capital LLC purchased a new stake in Allstate during the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 77.23% of the company’s stock.

Allstate Stock Down 1.6 %

Allstate stock traded down $1.77 during trading hours on Friday, hitting $108.78. 2,901,875 shares of the stock traded hands, compared to its average volume of 1,861,494. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.59. The company has a market cap of $28.45 billion, a PE ratio of -10.51 and a beta of 0.57. The firm’s 50-day moving average price is $108.31 and its two-hundred day moving average price is $111.66. The Allstate Co. has a one year low of $100.57 and a one year high of $142.15.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported ($4.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.83) by ($0.59). Allstate had a negative return on equity of 14.69% and a negative net margin of 4.80%. The company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $12.30 billion. During the same period in the prior year, the firm earned ($0.76) EPS. Allstate’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, research analysts forecast that The Allstate Co. will post -1.99 EPS for the current year.

Allstate Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALL. Piper Sandler lowered their price target on Allstate from $137.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. Barclays lowered their price target on Allstate from $113.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday, August 14th. Raymond James decreased their price objective on Allstate from $155.00 to $145.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 3rd. StockNews.com started coverage on Allstate in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Bank of America decreased their price objective on Allstate from $143.00 to $138.00 in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average price target of $135.31.

Insider Activity at Allstate

In related 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.

Allstate Company 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.