Wellington Management Group LLP Sells 16,870 Shares of The Allstate Corporation $ALL

Wellington Management Group LLP cut its holdings in The Allstate Corporation (NYSE:ALL) by 36.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,874 shares of the insurance provider’s stock after selling 16,870 shares during the period. Wellington Management Group LLP’s holdings in Allstate were worth $7,108,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ALL. Strategic Global Advisors LLC acquired a new stake in Allstate during the second quarter worth about $11,680,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Allstate in the 2nd quarter valued at approximately $6,861,000. Elevation Point Wealth Partners LLC raised its position in shares of Allstate by 130.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock valued at $4,016,000 after buying an additional 10,936 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after acquiring an additional 596,321 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Allstate by 69.2% during the 4th quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock worth $13,116,000 after acquiring an additional 25,764 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John E. Dugenske sold 32,996 shares of Allstate stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares of the company’s stock, valued at $3,515,833.82. This represents a 71.65% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by company insiders.

Allstate Stock Performance

Allstate stock opened at $253.40 on Wednesday. The business has a 50 day moving average of $257.59 and a 200-day moving average of $229.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a market capitalization of $64.07 billion, a P/E ratio of 5.06, a P/E/G ratio of 0.58 and a beta of 0.15.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the prior year, the company posted $5.94 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, equities research analysts predict that The Allstate Corporation will post 35.5 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio is currently 8.63%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ALL. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Mizuho boosted their price target on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Roth Capital set a $300.00 price objective on Allstate in a research note on Thursday, August 6th. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Finally, Weiss Ratings lowered shares of Allstate from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $263.90.

Allstate Profile

Allstate Corporation is an insurance and protection-services company headquartered in Northbrook, Illinois. Through its Allstate and National General brands, the company primarily provides property and casualty insurance to individuals and businesses in the United States.

Its products include automobile, homeowners, renters, condominium, landlord, motorcycle and recreational-vehicle insurance, along with other personal and commercial coverage. Allstate also offers roadside assistance, identity protection and related protection services through its various businesses and distribution channels, including agents, brokers and digital platforms.

Allstate’s roots date to 1931, when the Allstate Insurance Company was established as a subsidiary of Sears, Roebuck & Co The company became independent from Sears in the 1990s.