The Allstate Co. (NYSE:ALL) Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 3.4% during the first quarter, Holdings Channel.com reports. The firm owned 5,961 shares of the insurance provider’s stock after selling 208 shares during the quarter. SVB Wealth LLC’s holdings in Allstate were worth $1,031,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ALL. Norges Bank acquired a new position in shares of Allstate during the fourth quarter valued at $212,771,000. Palestra Capital Management LLC acquired a new position in Allstate during the fourth quarter worth about $83,561,000. Balyasny Asset Management L.P. acquired a new position in Allstate during the fourth quarter worth about $81,571,000. Artemis Investment Management LLP acquired a new position in shares of Allstate in the 1st quarter valued at $95,764,000. Finally, Mizuho Markets Americas LLC acquired a new position in shares of Allstate in the 4th quarter valued at $52,042,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $194.00 price objective on shares of Allstate in a research report on Friday, July 5th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. The Goldman Sachs Group raised their price objective on Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Piper Sandler lifted their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Evercore ISI lifted their price target on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average price target of $178.06.

Allstate Price Performance

Allstate stock traded up $0.12 on Monday, reaching $169.29. The company’s stock had a trading volume of 1,471,567 shares, compared to its average volume of 1,571,191. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $44.68 billion, a price-to-earnings ratio of 37.31, a PEG ratio of 1.77 and a beta of 0.48. The business’s fifty day moving average price is $163.94 and its 200 day moving average price is $163.55. The Allstate Co. has a twelve month low of $104.29 and a twelve month high of $179.93.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.30) earnings per share. Equities analysts expect that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.17%. Allstate’s payout ratio is currently 81.24%.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.