CX Institutional Sells 24,822 Shares of The Allstate Corporation $ALL

CX Institutional reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 82.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,364 shares of the insurance provider’s stock after selling 24,822 shares during the period. CX Institutional’s holdings in Allstate were worth $1,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Arlington Trust Co LLC grew its holdings in shares of Allstate by 261.8% in the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Allstate by 79.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Clearstead Trust LLC increased its position in shares of Allstate by 3,800.0% during the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 152 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Allstate by 315.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 126 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Allstate in the second quarter valued at approximately $34,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

ALL opened at $210.92 on Friday. The firm has a market capitalization of $55.19 billion, a PE ratio of 6.83, a price-to-earnings-growth ratio of 0.46 and a beta of 0.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The business’s 50-day moving average is $206.93 and its two-hundred day moving average is $203.17. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.89.

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

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, December 1st. Allstate’s dividend payout ratio (DPR) is 12.95%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wolfe Research upgraded Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Morgan Stanley reissued an “equal weight” rating and set a $215.00 price target (down previously from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Wells Fargo & Company upped their price objective on shares of Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Finally, William Blair downgraded shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $236.00.

Insider Transactions at Allstate

In other news, insider Suren Gupta sold 21,871 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the sale, the insider owned 100,646 shares in the company, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 48,400 shares of company stock valued at $10,313,256 over the last 90 days. 1.70% of the stock is currently owned by insiders.

About Allstate

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.