Citigroup Inc. Sells 59,290 Shares of The Allstate Corporation $ALL

Citigroup Inc. lessened its stake in The Allstate Corporation (NYSE:ALL) by 19.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,306 shares of the insurance provider’s stock after selling 59,290 shares during the quarter. Citigroup Inc. owned 0.09% of Allstate worth $51,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ALL. Brighton Jones LLC lifted its stake in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after buying an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Allstate in the 4th quarter worth approximately $231,000. Caitong International Asset Management Co. Ltd lifted its position in Allstate by 315.0% in the 2nd 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. Focus Partners Advisor Solutions LLC boosted its stake in Allstate by 28.5% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 5,251 shares of the insurance provider’s stock valued at $1,055,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its holdings in shares of Allstate by 10.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 2,146 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 205 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of the business’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 sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 24,129 shares of company stock worth $5,090,270 in the last quarter. 1.70% of the stock is currently owned by insiders.

Allstate Price Performance

NYSE ALL opened at $206.25 on Tuesday. The company has a 50-day moving average price of $203.88 and a 200-day moving average price of $204.38. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75. 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 firm has a market capitalization of $53.97 billion, a P/E ratio of 5.40, a PEG ratio of 0.43 and a beta of 0.24.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. During the same period in the previous year, the business posted $7.67 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $1.08 dividend. The ex-dividend date of this dividend 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 10.47%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALL. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $220.00 price target on shares of Allstate in a report on Thursday, February 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $238.00 target price on shares of Allstate in a research report on Saturday, February 7th. William Blair cut shares of Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. BMO Capital Markets lifted their price target on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Two 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, Allstate currently has an average rating of “Moderate Buy” and an average target price of $239.29.

Allstate 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.