Mutual of America Capital Management LLC Decreases Stock Holdings in The Allstate Co. (NYSE:ALL)

Mutual of America Capital Management LLC lessened its stake in shares of The Allstate Co. (NYSE:ALL) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,515 shares of the insurance provider’s stock after selling 765 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Allstate were worth $6,166,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in Allstate in the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC bought a new stake in shares of Allstate in the third quarter worth $29,000. Versant Capital Management Inc increased its position in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. bought a new position in Allstate in the second quarter valued at about $38,000. Finally, MCF Advisors LLC boosted its position in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 84 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALL has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Bank of America lifted their price target on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Evercore ISI upped their price objective on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, TD Cowen boosted their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.19.

Allstate Stock Down 1.7 %

NYSE ALL opened at $196.59 on Wednesday. The Allstate Co. has a 12 month low of $132.74 and a 12 month high of $201.00. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock has a market cap of $52.06 billion, a PE ratio of 12.73, a P/E/G ratio of 1.76 and a beta of 0.48. The stock’s 50 day moving average is $190.50 and its 200 day moving average is $177.22.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. Research analysts predict that The Allstate Co. will post 16.01 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.87%. Allstate’s payout ratio is 23.83%.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.