Federated Hermes Inc. Sells 74,113 Shares of The Allstate Corporation $ALL

Federated Hermes Inc. lessened its holdings in The Allstate Corporation (NYSE:ALL) by 13.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,383 shares of the insurance provider’s stock after selling 74,113 shares during the quarter. Federated Hermes Inc. owned approximately 0.18% of Allstate worth $99,465,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new position in Allstate during the 4th quarter worth about $231,000. GC Wealth Management RIA LLC grew its position in shares of Allstate by 136.6% in the 2nd quarter. GC Wealth Management RIA LLC now owns 2,562 shares of the insurance provider’s stock valued at $516,000 after buying an additional 1,479 shares during the last quarter. Venture Visionary Partners LLC grew its position in shares of Allstate by 13.3% in the 2nd quarter. Venture Visionary Partners LLC now owns 2,843 shares of the insurance provider’s stock valued at $572,000 after buying an additional 334 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Allstate by 11.9% in the second quarter. Janney Montgomery Scott LLC now owns 73,974 shares of the insurance provider’s stock valued at $14,892,000 after buying an additional 7,878 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allstate

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

Allstate Stock Up 1.4%

Allstate stock opened at $197.50 on Thursday. The company has a market capitalization of $51.68 billion, a PE ratio of 6.39, a PEG ratio of 0.42 and a beta of 0.24. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.89. The firm’s fifty day moving average is $205.15 and its 200 day moving average is $203.36. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share 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 firm had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the firm posted $3.91 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, December 1st. Allstate’s dividend payout ratio is 12.95%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALL. Keefe, Bruyette & Woods lifted their price objective on Allstate from $250.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. TD Cowen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, UBS Group boosted their target price on shares of Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a report on Monday, November 10th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.19.

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.