Angeles Investment Advisors LLC Sells 1,578 Shares of The Allstate Co. (NYSE:ALL)

Angeles Investment Advisors LLC decreased its position in shares of The Allstate Co. (NYSE:ALL) by 48.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,700 shares of the insurance provider’s stock after selling 1,578 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Allstate were worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd raised its holdings in Allstate by 613.8% during the 2nd quarter. Plato Investment Management Ltd now owns 7,859 shares of the insurance provider’s stock worth $1,255,000 after purchasing an additional 6,758 shares during the last quarter. Providence Wealth Advisors LLC raised its holdings in Allstate by 1.2% during the 2nd quarter. Providence Wealth Advisors LLC now owns 14,216 shares of the insurance provider’s stock worth $2,270,000 after purchasing an additional 166 shares during the last quarter. OV Management LLC raised its holdings in Allstate by 1.2% during the 2nd quarter. OV Management LLC now owns 9,817 shares of the insurance provider’s stock worth $1,567,000 after purchasing an additional 117 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Allstate by 2.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 57,345 shares of the insurance provider’s stock worth $9,156,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Wealthspire Advisors LLC grew its position in shares of Allstate by 22.7% during the 2nd quarter. Wealthspire Advisors LLC now owns 2,695 shares of the insurance provider’s stock worth $430,000 after buying an additional 498 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 1.2 %

NYSE ALL opened at $190.56 on Tuesday. The stock has a market capitalization of $50.29 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 1.74 and a beta of 0.48. The Allstate Co. has a one year low of $108.16 and a one year high of $191.33. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The business’s fifty day moving average is $177.05 and its 200-day moving average is $169.39.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($4.42) EPS. Equities research analysts predict that The Allstate Co. will post 15.16 EPS for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Analyst Ratings Changes

ALL has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Barclays initiated coverage on shares of Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, Morgan Stanley reduced their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Insider Activity at Allstate

In related news, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares in the company, valued at approximately $877,968.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,938 shares of company stock worth $36,122,740. Company insiders own 1.80% of the company’s stock.

About Allstate

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.