Birmingham Capital Management Co. Inc. AL Sells 2,149 Shares of The Allstate Co. (NYSE:ALL)

Birmingham Capital Management Co. Inc. AL cut its stake in shares of The Allstate Co. (NYSE:ALL) by 3.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,389 shares of the insurance provider’s stock after selling 2,149 shares during the quarter. Allstate makes up approximately 3.5% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 5th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Allstate were worth $8,843,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ALL. Rafferty Asset Management LLC lifted its stake in Allstate by 5.7% in the fourth quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock worth $12,984,000 after acquiring an additional 4,987 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Allstate during the 4th quarter worth $5,927,000. BDF Gestion acquired a new position in shares of Allstate during the second quarter worth $3,051,000. BNP Paribas Financial Markets increased its holdings in Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock valued at $37,825,000 after buying an additional 78,316 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Allstate in the second quarter valued at $476,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 0.7 %

ALL opened at $189.65 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Co. has a 12 month low of $109.01 and a 12 month high of $193.97. The stock has a market capitalization of $50.05 billion, a P/E ratio of 41.87, a P/E/G ratio of 1.81 and a beta of 0.48. The business has a 50 day simple moving average of $181.62 and a 200-day simple moving average of $171.69.

Allstate (NYSE:ALL) last released 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 company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter last year, the company earned ($4.42) earnings per share. Allstate’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities analysts anticipate that The Allstate Co. will post 15.2 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business 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 annualized dividend and a yield of 1.94%. Allstate’s payout ratio is currently 81.24%.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction 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 in the company, valued at $15,942,790.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 238,305 shares of company stock valued at $43,082,657. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALL shares. Bank of America increased their price objective on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley dropped their target price on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company reduced their price target on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods raised their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. One equities 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.76.

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.