SteelPeak Wealth LLC Sells 2,333 Shares of The Allstate Co. (NYSE:ALL)

SteelPeak Wealth LLC cut its holdings in shares of The Allstate Co. (NYSE:ALL) by 14.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,349 shares of the insurance provider’s stock after selling 2,333 shares during the quarter. SteelPeak Wealth LLC’s holdings in Allstate were worth $2,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ALL. FMR LLC grew its position in shares of Allstate by 9.6% during the third quarter. FMR LLC now owns 517,374 shares of the insurance provider’s stock valued at $57,641,000 after purchasing an additional 45,363 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Allstate by 115.9% during the third quarter. Acadian Asset Management LLC now owns 4,714 shares of the insurance provider’s stock valued at $524,000 after purchasing an additional 2,531 shares in the last quarter. Mutual Advisors LLC grew its position in shares of Allstate by 6.2% during the third quarter. Mutual Advisors LLC now owns 2,088 shares of the insurance provider’s stock valued at $233,000 after purchasing an additional 121 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Allstate by 103.6% during the third quarter. Tower Research Capital LLC TRC now owns 10,546 shares of the insurance provider’s stock valued at $1,175,000 after purchasing an additional 5,367 shares in the last quarter. Finally, Bank of Nova Scotia grew its position in shares of Allstate by 14.5% during the third quarter. Bank of Nova Scotia now owns 28,582 shares of the insurance provider’s stock valued at $3,184,000 after purchasing an additional 3,622 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of research analyst reports. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. The Goldman Sachs Group lifted their price target on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. JPMorgan Chase & Co. lifted their price target on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Roth Mkm lifted their price target on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, HSBC upgraded Allstate from a “hold” rating to a “buy” rating and lifted their price target for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.88.

Allstate Stock Performance

Allstate stock opened at $159.66 on Monday. The company has a 50 day moving average price of $165.87 and a 200-day moving average price of $160.18. 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 Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The company has a market capitalization of $42.14 billion, a PE ratio of 35.25, a P/E/G ratio of 1.88 and a beta of 0.50.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating the consensus estimate of $4.11 by $1.02. The firm had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.30) earnings per share. As a group, equities analysts forecast that The Allstate Co. will post 12.15 earnings per share for the current year.

Allstate Dividend Announcement

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

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.