Russell Investments Group Ltd. Sells 195,293 Shares of The Allstate Corporation $ALL

Russell Investments Group Ltd. trimmed its position in The Allstate Corporation (NYSE:ALL) by 24.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 603,745 shares of the insurance provider’s stock after selling 195,293 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of Allstate worth $121,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALL. Arlington Trust Co LLC grew its holdings in shares of Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Clearstead Trust LLC increased its holdings in shares of Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after buying an additional 152 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 126 shares during the last quarter. Hilltop National Bank purchased a new stake in Allstate during the 2nd quarter valued at $34,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Allstate in the second quarter worth about $38,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ALL. Roth Capital upped their price objective on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods upped their price objective on Allstate from $246.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Finally, Cantor Fitzgerald raised shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Allstate Stock Performance

NYSE ALL opened at $213.92 on Thursday. The business has a 50 day simple moving average of $204.37 and a two-hundred day simple moving average of $202.28. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $215.89. The stock has a market capitalization of $55.98 billion, a PE ratio of 10.06, a P/E/G ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.91 earnings per share. On average, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. Allstate’s payout ratio is presently 12.95%.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 600 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $215.02, for a total value of $129,012.00. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at $21,640,902.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 24,271 shares of company stock valued at $5,222,986. Corporate insiders own 1.70% of the company’s stock.

Allstate Profile

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.