Kovack Advisors Inc. Lowers Holdings in The Allstate Co. (NYSE:ALL)

Kovack Advisors Inc. lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 16.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,061 shares of the insurance provider’s stock after selling 213 shares during the period. Kovack Advisors Inc.’s holdings in Allstate were worth $201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ALL. Northwest Investment Counselors LLC acquired a new stake in Allstate during the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Allstate during the 3rd quarter worth about $29,000. Versant Capital Management Inc grew its position in shares of 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 acquiring an additional 78 shares during the period. Family Firm Inc. purchased a new position in shares of Allstate in the 2nd quarter valued at about $38,000. Finally, MCF Advisors LLC raised its holdings in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 0.6 %

Shares of ALL opened at $196.88 on Friday. The Allstate Co. has a 12-month low of $131.65 and a 12-month high of $201.00. The firm has a market capitalization of $52.13 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.75 and a beta of 0.48. The firm has a 50-day moving average price of $190.01 and a 200 day moving average price of $176.72. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the firm earned $0.81 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. Sell-side analysts forecast that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore ISI boosted their price objective on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group increased their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler boosted their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $214.19.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction dated 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 in the company, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. This represents a 50.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,049 shares of company stock worth $26,106,112. 1.80% of the stock is currently owned by company insiders.

Allstate 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.