The Allstate Co. (NYSE:ALL) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its stake in The Allstate Co. (NYSE:ALL) by 87.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,682 shares of the insurance provider’s stock after selling 33,581 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Allstate were worth $888,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. SPC Financial Inc. lifted its position in Allstate by 3.6% in the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in shares of Allstate by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock worth $596,000 after buying an additional 54 shares during the period. Abacus Planning Group Inc. grew its holdings in Allstate by 2.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after buying an additional 56 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after acquiring an additional 59 shares during the period. Finally, Carmichael Hill & Associates Inc. grew its stake in shares of Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALL shares. Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price target on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays boosted their target price on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Morgan Stanley increased their price target on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.19.

Allstate Price Performance

NYSE ALL opened at $207.80 on Wednesday. The stock has a 50-day simple moving average of $191.99 and a 200 day simple moving average of $178.36. The stock has a market capitalization of $55.03 billion, a PE ratio of 13.46, a P/E/G 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 Allstate Co. has a twelve month low of $134.17 and a twelve month high of $208.23.

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

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

About Allstate

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.