American International Group Inc. Lowers Stock Position in The Allstate Co. (NYSE:ALL)

American International Group Inc. lessened its stake in shares of The Allstate Co. (NYSE:ALL) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,627 shares of the insurance provider’s stock after selling 593 shares during the quarter. American International Group Inc.’s holdings in Allstate were worth $9,606,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ALL. Private Wealth Management Group LLC purchased a new position in Allstate during the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Allstate in the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC boosted its stake in shares of Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 168 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Allstate in the fourth quarter valued at approximately $43,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Allstate in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity

In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Up 0.8 %

ALL stock opened at $159.99 on Wednesday. The company’s 50 day moving average is $166.91 and its two-hundred day moving average is $159.06. The stock has a market cap of $42.22 billion, a P/E ratio of 35.32, a PEG ratio of 1.48 and a beta of 0.50. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $177.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted ($1.30) EPS. Research analysts expect that The Allstate Co. will post 15.13 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued a $0.92 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.30%. Allstate’s payout ratio is 81.24%.

Analysts Set New Price Targets

Several research firms have recently commented on ALL. The Goldman Sachs Group raised their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, March 25th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. Morgan Stanley lifted their price target on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler lifted their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.59.

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.