Sigma Planning Corp Lowers Position in The Allstate Co. (NYSE:ALL)

Sigma Planning Corp cut its position in shares of The Allstate Co. (NYSE:ALL) by 62.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,882 shares of the insurance provider’s stock after selling 3,186 shares during the period. Sigma Planning Corp’s holdings in Allstate were worth $263,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Gradient Investments LLC grew its position in Allstate by 1.6% during the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock worth $578,000 after acquiring an additional 66 shares during the last quarter. SVB Wealth LLC grew its position in Allstate by 1.2% during the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after acquiring an additional 72 shares during the last quarter. AdvisorNet Financial Inc grew its position in Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after acquiring an additional 82 shares during the last quarter. Carmel Capital Partners LLC grew its position in Allstate by 19.2% during the 3rd quarter. Carmel Capital Partners LLC now owns 516 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 83 shares during the last quarter. Finally, Ausdal Financial Partners Inc. grew its position in Allstate by 3.8% during the 4th quarter. Ausdal Financial Partners Inc. now owns 2,405 shares of the insurance provider’s stock worth $337,000 after acquiring an additional 89 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Down 1.3 %

Shares of NYSE:ALL opened at $170.07 on Monday. The stock has a fifty day simple moving average of $165.09 and a two-hundred day simple moving average of $149.63. The stock has a market capitalization of $44.74 billion, a price-to-earnings ratio of -137.15, a PEG ratio of 0.42 and a beta of 0.52. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $176.93. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The business had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.36) earnings per share. On average, research analysts anticipate that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.92 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.16%. Allstate’s dividend payout ratio (DPR) is presently -296.77%.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ALL shares. Morgan Stanley raised their price target on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Jefferies Financial Group upgraded Allstate from a “hold” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $180.00 in a report on Tuesday, January 9th. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and increased their price objective for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. UBS Group increased their price objective on Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on Allstate from $172.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.71.

Allstate Profile

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.