Barrow Hanley Mewhinney & Strauss LLC Trims Position in The Allstate Co. (NYSE:ALL)

Barrow Hanley Mewhinney & Strauss LLC reduced its holdings in The Allstate Co. (NYSE:ALL) by 3.9% during the 2nd quarter, Holdings Channel reports. The fund owned 2,909,442 shares of the insurance provider’s stock after selling 118,974 shares during the period. Allstate makes up about 1.6% of Barrow Hanley Mewhinney & Strauss LLC’s holdings, making the stock its 25th largest holding. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Allstate were worth $464,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Premier Path Wealth Partners LLC boosted its holdings in Allstate by 2.5% in the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 61 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Beacon Capital Management LLC boosted its stake in shares of Allstate by 8.2% in the second quarter. Beacon Capital Management LLC now owns 1,039 shares of the insurance provider’s stock worth $166,000 after buying an additional 79 shares during the last quarter. Lodestone Wealth Management LLC grew its holdings in Allstate by 4.8% during the second quarter. Lodestone Wealth Management LLC now owns 1,738 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 80 shares during the period. Finally, MCF Advisors LLC raised its position in Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the transaction, the executive vice president now directly owns 4,873 shares in the company, valued at approximately $877,968.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,938 shares of company stock worth $36,122,740. Insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of NYSE:ALL opened at $191.00 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Co. has a 1 year low of $109.01 and a 1 year high of $193.19. The firm has a market capitalization of $50.41 billion, a PE ratio of 42.16, a P/E/G ratio of 1.74 and a beta of 0.48. The business’s 50 day moving average price is $179.42 and its 200-day moving average price is $170.27.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($4.42) EPS. As a group, equities research analysts expect that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 annualized dividend and a yield of 1.93%. Allstate’s dividend payout ratio is presently 81.24%.

Analyst Upgrades and Downgrades

Several research firms have commented on ALL. BMO Capital Markets upped their price objective on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group raised their price target on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. Finally, StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.76.

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.