44 Wealth Management LLC Cuts Stake in The Allstate Corporation $ALL

44 Wealth Management LLC cut its holdings in shares of The Allstate Corporation (NYSE:ALL) by 80.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,005 shares of the insurance provider’s stock after selling 12,058 shares during the quarter. 44 Wealth Management LLC’s holdings in Allstate were worth $645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. Guerra Pan Advisors LLC grew its stake in shares of Allstate by 1.5% in the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock worth $690,000 after acquiring an additional 49 shares in the last quarter. South Plains Financial Inc. boosted its holdings in Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares during the period. Focus Financial Network Inc. boosted its holdings in Allstate by 1.1% in the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after purchasing an additional 52 shares during the period. L2 Asset Management LLC grew its stake in Allstate by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock worth $235,000 after purchasing an additional 53 shares in the last quarter. Finally, Howard Capital Management Inc. increased its holdings in Allstate by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALL. Roth Mkm increased their price target on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. The Goldman Sachs Group restated a “neutral” rating and set a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Citigroup lifted their price target on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Finally, William Blair cut shares of Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $238.88.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction that occurred on 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 transaction, the insider owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Allstate Price Performance

Shares of NYSE:ALL opened at $206.22 on Friday. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $216.75. The firm has a market capitalization of $53.52 billion, a P/E ratio of 5.40, a P/E/G ratio of 0.43 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The company’s fifty day moving average price is $204.52 and its 200 day moving average price is $204.70.

Allstate (NYSE:ALL) last released its quarterly earnings data 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 the consensus estimate of $17.23 billion. During the same quarter in the prior year, the firm posted $7.67 earnings per share. Allstate’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a $1.08 dividend. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s payout ratio is currently 11.31%.

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.