The Allstate Corporation $ALL Shares Sold by Ariel Investments LLC

Ariel Investments LLC decreased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 33.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,737 shares of the insurance provider’s stock after selling 58,607 shares during the quarter. Ariel Investments LLC’s holdings in Allstate were worth $23,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Arlington Trust Co LLC grew its stake in Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 89 shares in the last quarter. Clearstead Trust LLC lifted its stake in Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 126 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of Allstate in the second quarter valued at approximately $34,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of Allstate in the second quarter valued at approximately $38,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ALL shares. Wall Street Zen lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Evercore ISI set a $233.00 price target on Allstate and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Wolfe Research raised shares of Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Wells Fargo & Company raised their price objective on shares of Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Finally, Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Activity at Allstate

In other Allstate news, insider Suren Gupta sold 21,871 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at $21,660,025.66. The trade was a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 28,807 shares of company stock valued at $6,198,726 in the last three months. Insiders own 1.70% of the company’s stock.

Allstate Price Performance

ALL opened at $200.94 on Wednesday. The stock’s 50-day moving average price is $204.00 and its 200 day moving average price is $202.41. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.89. The firm has a market cap of $52.58 billion, a price-to-earnings ratio of 6.50, a PEG ratio of 0.38 and a beta of 0.25. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.91 earnings per share. As a group, sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, December 1st. Allstate’s dividend payout ratio (DPR) is currently 12.95%.

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.