First Trust Advisors LP Sells 96,317 Shares of The Allstate Co. (NYSE:ALL)

First Trust Advisors LP reduced its position in shares of The Allstate Co. (NYSE:ALLFree Report) by 16.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 483,472 shares of the insurance provider’s stock after selling 96,317 shares during the period. First Trust Advisors LP owned 0.18% of Allstate worth $67,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALL. Janney Montgomery Scott LLC lifted its position in shares of Allstate by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 47,344 shares of the insurance provider’s stock worth $5,275,000 after purchasing an additional 540 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Allstate by 17.8% during the third quarter. D.A. Davidson & CO. now owns 14,375 shares of the insurance provider’s stock worth $1,602,000 after buying an additional 2,172 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Allstate by 23.1% in the third quarter. Sequoia Financial Advisors LLC now owns 5,801 shares of the insurance provider’s stock valued at $646,000 after acquiring an additional 1,088 shares during the period. KCM Investment Advisors LLC grew its stake in shares of Allstate by 5.5% in the third quarter. KCM Investment Advisors LLC now owns 11,653 shares of the insurance provider’s stock worth $1,298,000 after acquiring an additional 605 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Allstate by 7.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,960 shares of the insurance provider’s stock worth $2,224,000 after acquiring an additional 1,306 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ALL shares. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Monday. Piper Sandler boosted their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. raised their price objective on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Roth Mkm boosted their price objective on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group raised their target price on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.59.

Check Out Our Latest Report on Allstate

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Allstate Price Performance

Allstate stock opened at $163.12 on Friday. The business’s fifty day moving average is $168.68 and its two-hundred day moving average is $157.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $43.05 billion, a P/E ratio of 36.01, a P/E/G ratio of 1.54 and a beta of 0.50. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37.

Allstate (NYSE:ALLGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.30) EPS. Equities research analysts forecast that The Allstate Co. will post 15.15 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, May 31st. Allstate’s dividend payout ratio is currently 81.24%.

About Allstate

(Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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