Glenview Trust Co Sells 2,873 Shares of The Allstate Corporation $ALL

Glenview Trust Co trimmed its holdings in The Allstate Corporation (NYSE:ALL) by 2.0% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 141,379 shares of the insurance provider’s stock after selling 2,873 shares during the quarter. Glenview Trust Co owned about 0.05% of Allstate worth $30,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ALL. Norges Bank purchased a new position in shares of Allstate during the second quarter valued at approximately $482,870,000. Swedbank AB raised its stake in Allstate by 2,157.8% during the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after buying an additional 823,559 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Allstate by 52.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock valued at $279,062,000 after buying an additional 478,598 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Allstate by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after buying an additional 435,145 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Allstate in the second quarter worth $68,590,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BMO Capital Markets boosted their price target on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Wells Fargo & Company upped their target price on shares of Allstate from $223.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Evercore set a $225.00 price target on shares of Allstate in a research note on Wednesday, January 7th. Finally, TD Cowen lowered Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.35.

Allstate Stock Performance

NYSE ALL opened at $207.41 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $216.75. The business has a 50-day moving average price of $203.67 and a 200-day moving average price of $204.27. The firm has a market cap of $54.28 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 0.44 and a beta of 0.24.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The company had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same period in the previous year, the firm earned $7.67 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $1.08 dividend. The ex-dividend date is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. This is an increase from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is presently 10.47%.

Insider Buying and Selling

In other news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 46,600 shares of company stock valued at $9,926,140. 1.70% of the stock is owned by insiders.

Allstate Company Profile

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.