Toronto Dominion Bank Decreases Stake in The Allstate Co. (NYSE:ALL)

Toronto Dominion Bank cut its position in The Allstate Co. (NYSE:ALL) by 40.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,111 shares of the insurance provider’s stock after selling 88,967 shares during the period. Toronto Dominion Bank’s holdings in Allstate were worth $20,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in Allstate during the first quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate during the first quarter worth approximately $26,000. Versant Capital Management Inc lifted its stake in shares of Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the period. Family Firm Inc. purchased a new stake in Allstate in the 2nd quarter valued at approximately $38,000. Finally, MCF Advisors LLC boosted its stake in shares of Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of ALL stock opened at $188.69 on Friday. The firm has a market cap of $49.80 billion, a P/E ratio of 41.85, a P/E/G ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 1-year low of $109.01 and a 1-year high of $193.97. The firm has a fifty day moving average of $180.80 and a two-hundred day moving average of $170.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating 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 firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same quarter in the previous year, the firm earned ($4.42) earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, research analysts anticipate that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Announces Dividend

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 $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Insider Activity at Allstate

In related news, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now 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 is accessible through the SEC website. Also, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the transaction, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock worth $43,082,657 in the last ninety days. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on ALL shares. Keefe, Bruyette & Woods upped 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. Roth Mkm reiterated a “buy” rating and set a $200.00 price target on shares of Allstate in a report on Wednesday, August 14th. BMO Capital Markets increased their target price on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Piper Sandler boosted their price objective on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group increased their target price on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given 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 currently has a consensus rating of “Moderate Buy” and an average 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.