The Allstate Co. (NYSE:ALL) Position Trimmed by Perigon Wealth Management LLC

Posted by Defense World Staff on Mar 19th, 2023

Perigon Wealth Management LLC lessened its holdings in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,825 shares of the insurance provider’s stock after selling 119 shares during the quarter. Perigon Wealth Management LLC’s holdings in Allstate were worth $227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Allstate by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 25,700,343 shares of the insurance provider’s stock valued at $3,200,463,000 after buying an additional 275,168 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Allstate by 1.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,028,442 shares of the insurance provider’s stock valued at $626,192,000 after buying an additional 49,793 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Allstate by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 2,897,864 shares of the insurance provider’s stock valued at $367,253,000 after buying an additional 22,466 shares during the last quarter. Boston Partners lifted its holdings in shares of Allstate by 384.6% during the 3rd quarter. Boston Partners now owns 2,707,454 shares of the insurance provider’s stock valued at $337,094,000 after buying an additional 2,148,764 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Allstate by 41.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,572,349 shares of the insurance provider’s stock valued at $320,333,000 after buying an additional 759,114 shares during the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 29,451 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $134.18, for a total value of $3,951,735.18. Following the sale, the chief financial officer now directly owns 16,668 shares in the company, valued at $2,236,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.77% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ALL. Citigroup reduced their target price on Allstate from $160.00 to $150.00 in a report on Thursday, January 19th. StockNews.com began coverage on Allstate in a report on Thursday. They issued a “hold” rating for the company. Evercore ISI reduced their target price on Allstate from $144.00 to $138.00 and set an “in-line” rating for the company in a report on Thursday, February 2nd. UBS Group boosted their target price on Allstate from $150.00 to $160.00 in a report on Tuesday, January 10th. Finally, Barclays reduced their target price on Allstate from $144.00 to $126.00 and set an “equal weight” rating for the company in a report on Friday, January 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $147.31.

Allstate Stock Down 6.2 %

ALL opened at $105.11 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.38 and a current ratio of 0.38. The Allstate Co. has a 1 year low of $104.32 and a 1 year high of $144.46. The stock’s 50 day simple moving average is $129.42 and its 200-day simple moving average is $129.79.

Allstate (NYSE:ALL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The insurance provider reported ($1.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.01. The business had revenue of $13.55 billion for the quarter, compared to analysts’ expectations of $13.45 billion. Allstate had a negative return on equity of 1.04% and a negative net margin of 2.55%. Allstate’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.75 earnings per share. On average, analysts expect that The Allstate Co. will post 6.81 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Tuesday, February 28th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 3.39%. This is a boost from Allstate’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Monday, February 27th. Allstate’s dividend payout ratio is -66.92%.

About Allstate

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The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.