The Allstate Co. (NYSE:ALL) Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. reduced its stake in The Allstate Co. (NYSE:ALL) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,087 shares of the insurance provider’s stock after selling 164 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Allstate were worth $812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Allstate by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock valued at $884,508,000 after acquiring an additional 90,390 shares during the period. Norges Bank acquired a new position in Allstate in the fourth quarter valued at approximately $212,771,000. Raymond James Financial Services Advisors Inc. boosted its stake in Allstate by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock valued at $130,680,000 after acquiring an additional 8,454 shares during the period. Russell Investments Group Ltd. boosted its stake in Allstate by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock valued at $123,574,000 after acquiring an additional 75,698 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Allstate by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,386 shares of the insurance provider’s stock valued at $118,925,000 after acquiring an additional 6,760 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

NYSE ALL opened at $188.41 on Friday. The Allstate Co. has a 1 year low of $105.57 and a 1 year high of $188.80. 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 stock has a market capitalization of $49.72 billion, a P/E ratio of 41.59, a P/E/G ratio of 1.86 and a beta of 0.48. The business’s fifty day moving average is $169.94 and its two-hundred day moving average is $166.84.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share 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 firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same period in the previous year, the company posted ($4.42) EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, research analysts forecast that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ALL shares. Piper Sandler lifted their price target on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Bank of America lifted their price target on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company dropped their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. boosted their target price on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.94.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred 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 in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Suren Gupta sold 45,775 shares of the business’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 owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,938 shares of company stock worth $36,122,740. Corporate insiders own 1.80% of the company’s stock.

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.