Parnassus Investments LLC Sells 17,066 Shares of The Allstate Corporation $ALL

Parnassus Investments LLC cut its holdings in The Allstate Corporation (NYSE:ALL) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,460 shares of the insurance provider’s stock after selling 17,066 shares during the quarter. Parnassus Investments LLC owned approximately 0.08% of Allstate worth $41,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Navalign LLC bought a new position in Allstate in the 4th quarter worth $27,000. Dorato Capital Management bought a new position in Allstate in the 4th quarter worth $27,000. Palisade Asset Management LLC bought a new position in Allstate in the 3rd quarter worth $31,000. Princeton Global Asset Management LLC raised its holdings in 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 purchasing an additional 76 shares in the last quarter. Finally, South Plains Financial Inc. raised its holdings in Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 49 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was 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 owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. 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 in the last three months. Insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALL. Citigroup lifted their price objective on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Mizuho cut 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. Finally, Barclays lifted their price objective on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

Allstate Stock Performance

Shares of ALL opened at $219.75 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $214.33 and its 200-day moving average price is $208.85. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62. The stock has a market cap of $56.57 billion, a P/E ratio of 4.85, a P/E/G ratio of 0.40 and a beta of 0.18.

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

Allstate Announces Dividend

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

Allstate Company Profile

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.