NBC Securities Inc. Reduces Stock Position in The Allstate Co. (NYSE:ALL)

NBC Securities Inc. cut its stake in The Allstate Co. (NYSE:ALL) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,871 shares of the insurance provider’s stock after selling 161 shares during the period. NBC Securities Inc.’s holdings in Allstate were worth $496,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Gradient Investments LLC increased its holdings in Allstate by 1.6% in the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after buying an additional 66 shares in the last quarter. Brighton Jones LLC increased its holdings in Allstate by 1.9% in the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock valued at $541,000 after buying an additional 71 shares in the last quarter. SVB Wealth LLC increased its holdings in Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after buying an additional 72 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in Allstate by 1.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock valued at $754,000 after buying an additional 82 shares in the last quarter. Finally, St. Johns Investment Management Company LLC increased its holdings in Allstate by 2.2% in the fourth quarter. St. Johns Investment Management Company LLC now owns 3,955 shares of the insurance provider’s stock valued at $554,000 after buying an additional 85 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Up 1.6 %

ALL stock opened at $162.59 on Friday. The stock has a market capitalization of $42.91 billion, a P/E ratio of 35.89, a PEG ratio of 1.51 and a beta of 0.50. The company has a 50 day moving average price of $166.66 and a two-hundred day moving average price of $159.09. The Allstate Co. has a one year low of $100.57 and a one year high of $177.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating 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 net margin of 2.31% and a return on equity of 14.44%. Allstate’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned ($1.30) EPS. As a group, sell-side analysts expect that The Allstate Co. will post 15.13 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders 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 2.26%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALL shares. Piper Sandler increased their target price on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. The Goldman Sachs Group raised their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Roth Mkm raised their price objective on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Morgan Stanley raised their price objective 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. Finally, Evercore ISI raised their price objective on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.59.

Insider Buying and Selling at Allstate

In other Allstate 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 owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

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.