Citigroup Inc. Trims Holdings in The Allstate Co. (NYSE:ALL)

Citigroup Inc. reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 14.0% during the third quarter, Holdings Channel reports. The firm owned 184,492 shares of the insurance provider’s stock after selling 30,055 shares during the quarter. Citigroup Inc.’s holdings in Allstate were worth $34,989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ALL. Pathway Financial Advisers LLC grew its stake in Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after buying an additional 472,040 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after buying an additional 464,337 shares during the period. TimesSquare Capital Management LLC bought a new position in shares of Allstate in the 3rd quarter worth about $77,819,000. Finally, Acadian Asset Management LLC lifted its position in Allstate by 3,839.0% during the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after acquiring an additional 405,553 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALL. Evercore ISI boosted their price target on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their target price on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Wells Fargo & Company increased their price objective on shares of Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Raymond James lifted their target price on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average target price of $214.19.

Allstate Stock Down 0.8 %

Allstate stock opened at $202.14 on Tuesday. The stock has a market cap of $53.53 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average of $191.64 and a 200 day moving average of $178.11. The Allstate Co. has a one year low of $134.17 and a one year high of $205.35.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The firm’s revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.82%. Allstate’s dividend payout ratio (DPR) is 23.83%.

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.