Ensign Peak Advisors Inc Cuts Position in The Allstate Co. (NYSE:ALL)

Ensign Peak Advisors Inc cut its stake in The Allstate Co. (NYSE:ALL) by 17.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 964,938 shares of the insurance provider’s stock after selling 202,828 shares during the quarter. Ensign Peak Advisors Inc owned about 0.37% of Allstate worth $154,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Allstate during the 1st quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate during the 1st quarter valued at about $26,000. Versant Capital Management Inc increased its position in Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Family Firm Inc. acquired a new position in Allstate during the 2nd quarter valued at about $38,000. Finally, MCF Advisors LLC increased its position in Allstate by 33.9% during the 2nd 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Bank of America upped their target price on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price target on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Keefe, Bruyette & Woods boosted their price target on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Piper Sandler boosted their price target on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, TD Cowen upped their target price on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Insider Activity at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred 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 owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suren Gupta sold 45,775 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,938 shares of company stock valued at $36,122,740. 1.80% of the stock is currently owned by insiders.

Allstate Price Performance

Shares of Allstate stock opened at $191.00 on Friday. The business has a 50 day simple moving average of $179.42 and a two-hundred day simple moving average of $170.17. The Allstate Co. has a 12 month low of $109.01 and a 12 month high of $193.19. The stock has a market capitalization of $50.41 billion, a P/E ratio of 42.16, a PEG ratio of 1.74 and a beta of 0.48. 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 announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter in the prior year, the firm earned ($4.42) earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts predict that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.93%. Allstate’s dividend payout ratio is presently 81.24%.

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.