Zions Bancorporation N.A. Sells 524 Shares of The Allstate Co. (NYSE:ALL)

Zions Bancorporation N.A. cut its stake in The Allstate Co. (NYSE:ALL) by 34.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,001 shares of the insurance provider’s stock after selling 524 shares during the quarter. Zions Bancorporation N.A.’s holdings in Allstate were worth $160,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Meeder Advisory Services Inc. raised its holdings in Allstate by 26.7% in the 2nd quarter. Meeder Advisory Services Inc. now owns 5,849 shares of the insurance provider’s stock valued at $934,000 after acquiring an additional 1,231 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Allstate by 3.8% during the second quarter. Oppenheimer & Co. Inc. now owns 12,061 shares of the insurance provider’s stock worth $1,926,000 after purchasing an additional 440 shares during the period. BOKF NA lifted its holdings in Allstate by 264.0% during the 2nd quarter. BOKF NA now owns 17,799 shares of the insurance provider’s stock worth $2,842,000 after purchasing an additional 12,909 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in Allstate by 0.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 16,681 shares of the insurance provider’s stock valued at $2,663,000 after purchasing an additional 92 shares during the period. Finally, Forsta AP Fonden grew its holdings in Allstate by 25.6% in the 2nd quarter. Forsta AP Fonden now owns 90,700 shares of the insurance provider’s stock valued at $14,481,000 after buying an additional 18,500 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Allstate stock opened at $188.30 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a 52 week low of $108.16 and a 52 week high of $191.33. The stock has a market capitalization of $49.72 billion, a P/E ratio of 41.57, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The stock has a fifty day moving average of $176.43 and a 200-day moving average of $169.11.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($4.42) earnings per share. On average, sell-side analysts expect that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. Allstate’s payout ratio is presently 81.24%.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,938 shares of company stock worth $36,122,740. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ALL shares. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Bank of America lifted their price objective on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. BMO Capital Markets lifted their price target on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Morgan Stanley reduced their price target on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

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.