The Allstate Co. (NYSE:ALL) Stake Cut by Neumann Capital Management LLC

Neumann Capital Management LLC lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 6.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,960 shares of the insurance provider’s stock after selling 600 shares during the period. Neumann Capital Management LLC’s holdings in Allstate were worth $1,699,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Pathway Financial Advisers LLC boosted its holdings in shares of Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after acquiring an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in Allstate in the third quarter valued at about $77,819,000. Finally, Acadian Asset Management LLC increased its position in Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after purchasing an additional 405,553 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the transaction, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. This trade represents a 77.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,049 shares of company stock worth $26,106,112. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays raised their price target on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. Finally, Evercore ISI boosted their price target on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $212.56.

Allstate Stock Down 0.7 %

Shares of ALL stock opened at $195.85 on Friday. The Allstate Co. has a 12 month low of $130.77 and a 12 month high of $201.00. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a market cap of $51.86 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.77 and a beta of 0.48. The stock has a 50 day moving average of $189.58 and a 200-day moving average of $176.40.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 EPS. On average, equities analysts predict that The Allstate Co. will post 16.02 EPS for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.88%. Allstate’s dividend payout ratio is currently 23.83%.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.