CCM Investment Advisers LLC Sells 452 Shares of The Allstate Co. (NYSE:ALL)

CCM Investment Advisers LLC reduced its position in shares of The Allstate Co. (NYSE:ALLFree Report) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,026 shares of the insurance provider’s stock after selling 452 shares during the quarter. CCM Investment Advisers LLC’s holdings in Allstate were worth $11,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cowa LLC bought a new stake in Allstate during the 1st quarter worth about $30,000. CVA Family Office LLC raised its holdings in Allstate by 48.4% during the 1st quarter. CVA Family Office LLC now owns 282 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 92 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of Allstate in the 1st quarter valued at about $33,000. Kalos Management Inc. bought a new stake in shares of Allstate in the 1st quarter valued at about $39,000. Finally, OLD Mission Capital LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $41,000. 77.23% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $109.48 on Wednesday. The business’s 50-day moving average price is $108.28 and its 200-day moving average price is $111.95. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $142.15. The firm has a market capitalization of $28.64 billion, a price-to-earnings ratio of -10.58 and a beta of 0.57. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.59.

Allstate (NYSE:ALLGet Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported ($4.42) EPS for the quarter, missing analysts’ consensus estimates of ($3.83) by ($0.59). Allstate had a negative net margin of 4.80% and a negative return on equity of 14.69%. The firm had revenue of $13.98 billion for the quarter, compared to analyst estimates of $12.30 billion. During the same period in the previous year, the business posted ($0.76) earnings per share. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities research analysts forecast that The Allstate Co. will post -1.99 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, August 30th. Allstate’s dividend payout ratio is currently -34.40%.

Insider Buying and Selling

In other Allstate news, Director Judith A. Sprieser sold 1,565 shares of Allstate stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $111.22, for a total value of $174,059.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. StockNews.com began coverage on Allstate in a report on Thursday, August 17th. They issued a “hold” rating for the company. Barclays lowered their price objective on Allstate from $113.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday, August 14th. Piper Sandler lowered their price objective on Allstate from $137.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. JPMorgan Chase & Co. lowered their price objective on Allstate from $162.00 to $154.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 2nd. Finally, Raymond James lowered their price objective on Allstate from $155.00 to $145.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.31.

Read Our Latest Stock Analysis on ALL

About Allstate

(Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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