The Allstate Co. (NYSE:ALL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its stake in The Allstate Co. (NYSE:ALL) by 3.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 439,322 shares of the insurance provider’s stock after selling 15,049 shares during the period. Thrivent Financial for Lutherans’ holdings in Allstate were worth $70,142,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in Allstate by 4.6% in the second quarter. Pacer Advisors Inc. now owns 18,804 shares of the insurance provider’s stock valued at $3,002,000 after acquiring an additional 827 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Allstate by 2.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 73,978 shares of the insurance provider’s stock valued at $11,811,000 after purchasing an additional 1,900 shares during the last quarter. AE Wealth Management LLC boosted its position in shares of Allstate by 182.0% in the 2nd quarter. AE Wealth Management LLC now owns 5,144 shares of the insurance provider’s stock valued at $821,000 after purchasing an additional 3,320 shares during the period. Bridges Investment Management Inc. purchased a new position in Allstate during the 2nd quarter worth approximately $207,000. Finally, Canada Pension Plan Investment Board increased its position in Allstate by 41.5% during the second quarter. Canada Pension Plan Investment Board now owns 384,217 shares of the insurance provider’s stock worth $61,344,000 after buying an additional 112,753 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALL. JPMorgan Chase & Co. raised their target price on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. The Goldman Sachs Group increased their price target on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley decreased their target price on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company lowered their price target on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Finally, StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $192.76.

Allstate Stock Performance

Shares of ALL opened at $191.00 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 52-week low of $109.01 and a 52-week high of $193.19. The company has a 50-day simple moving average of $179.42 and a 200-day simple moving average of $170.27. The company has a market capitalization of $50.41 billion, a PE ratio of 42.16, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted ($4.42) earnings per share. Equities research analysts predict that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 1.93%. Allstate’s payout ratio is 81.24%.

Insider Buying and Selling at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction 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 approximately $15,880,915.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares in the company, valued at approximately $3,431,901.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,938 shares of company stock valued at $36,122,740. Insiders own 1.80% of the company’s stock.

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.