Signet Financial Management LLC lowered its stake in shares of Allstate Corp (NYSE:ALL) by 39.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 36,929 shares of the insurance provider’s stock after selling 23,574 shares during the period. Signet Financial Management LLC’s holdings in Allstate were worth $3,801,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ALL. Strategy Asset Managers LLC purchased a new position in shares of Allstate during the first quarter worth $25,000. Manchester Financial Inc. acquired a new stake in shares of Allstate in the second quarter valued at $25,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Allstate in the second quarter valued at $27,000. Mcmillion Capital Management Inc. purchased a new stake in shares of Allstate in the 2nd quarter valued at $35,000. Finally, Webster Bank N. A. raised its holdings in shares of Allstate by 100.0% in the 2nd quarter. Webster Bank N. A. now owns 400 shares of the insurance provider’s stock valued at $41,000 after buying an additional 200 shares during the period. 76.96% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on ALL. Morgan Stanley raised their target price on Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Raymond James increased their price objective on Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. Barclays set a $125.00 target price on Allstate and gave the stock a “buy” rating in a research note on Monday, August 12th. Credit Suisse Group downgraded Allstate from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $100.00 to $94.00 in a report on Thursday, July 11th. Finally, Goldman Sachs Group raised Allstate from a “neutral” rating to a “buy” rating and increased their price target for the company from $106.00 to $110.00 in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $108.25.
NYSE:ALL traded up $0.22 during trading hours on Wednesday, hitting $105.90. The company’s stock had a trading volume of 944,304 shares, compared to its average volume of 1,332,362. The stock has a market capitalization of $34.59 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.33 and a beta of 0.82. The stock has a fifty day moving average of $103.42 and a 200-day moving average of $99.14. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.29. Allstate Corp has a 52-week low of $77.00 and a 52-week high of $109.13.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.70. The company had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. Allstate had a return on equity of 12.66% and a net margin of 6.52%. Allstate’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 EPS. On average, sell-side analysts forecast that Allstate Corp will post 9.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.89%. Allstate’s payout ratio is currently 24.78%.
In other Allstate news, Director Judith A. Sprieser sold 2,225 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $102.63, for a total value of $228,351.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jesse E. Merten sold 900 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $102.27, for a total value of $92,043.00. Following the transaction, the executive vice president now directly owns 4,869 shares in the company, valued at approximately $497,952.63. The disclosure for this sale can be found here. Insiders have sold a total of 126,836 shares of company stock worth $13,071,947 in the last three months. Corporate insiders own 1.60% of the company’s stock.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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