Kovitz Investment Group Partners LLC Sells 32,597 Shares of The Allstate Corporation $ALL

Kovitz Investment Group Partners LLC reduced its stake in shares of The Allstate Corporation (NYSE:ALL) by 27.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 87,673 shares of the insurance provider’s stock after selling 32,597 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Allstate were worth $18,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of ALL. Navalign LLC acquired a new stake in Allstate during the fourth quarter worth about $27,000. Dorato Capital Management acquired a new position in Allstate in the 4th quarter valued at approximately $27,000. Palisade Asset Management LLC bought a new stake in shares of Allstate in the 3rd quarter worth approximately $31,000. Princeton Global Asset Management LLC lifted its position in shares of Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 76 shares during the period. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Allstate during the 4th quarter worth approximately $32,000. 76.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,353 shares of company stock worth $4,851,560 over the last three months. 1.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of research reports. Mizuho lowered their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Barclays upped their price objective on shares of Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $240.33.

Allstate Trading Down 0.4%

Shares of NYSE ALL opened at $220.72 on Friday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62. The company has a 50-day moving average of $215.78 and a two-hundred day moving average of $209.15. The company has a market cap of $56.82 billion, a PE ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the firm earned $3.53 earnings per share. Allstate’s revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts expect that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. Allstate’s payout ratio is presently 9.53%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.