Cadence Bank Reduces Holdings in The Allstate Co. (NYSE:ALL)

Cadence Bank cut its position in The Allstate Co. (NYSE:ALL) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,964 shares of the insurance provider’s stock after selling 255 shares during the quarter. Cadence Bank’s holdings in Allstate were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the third quarter valued at about $28,000. Catalyst Capital Advisors LLC purchased a new position in Allstate in the third quarter valued at about $29,000. Versant Capital Management Inc grew its stake in Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Allstate in the 2nd quarter valued at approximately $38,000. Finally, MCF Advisors LLC boosted its stake in shares of Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John E. Dugenske sold 36,367 shares of the 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 directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ALL shares. TD Cowen lifted their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group lifted their price target on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, BMO Capital Markets increased their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.19.

Allstate Stock Up 2.9 %

ALL stock opened at $207.80 on Wednesday. The firm’s 50-day moving average is $191.99 and its two-hundred day moving average is $178.36. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $55.03 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 52 week low of $134.17 and a 52 week high of $208.23.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts forecast that The Allstate Co. will post 16.07 earnings per share for the current fiscal 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 issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is 23.83%.

Allstate Company Profile

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.