Moody National Bank Trust Division Lowers Position in The Allstate Co. (NYSE:ALL)

Moody National Bank Trust Division decreased its stake in The Allstate Co. (NYSE:ALL) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,971 shares of the insurance provider’s stock after selling 401 shares during the period. Moody National Bank Trust Division’s holdings in Allstate were worth $1,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Gradient Investments LLC grew its stake in Allstate by 1.6% during the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock worth $578,000 after buying an additional 66 shares during the period. Brighton Jones LLC grew its stake in Allstate by 1.9% during the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after buying an additional 71 shares during the period. SVB Wealth LLC grew its stake in Allstate by 1.2% during the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after buying an additional 72 shares during the period. AdvisorNet Financial Inc grew its stake in Allstate by 1.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after buying an additional 82 shares during the period. Finally, St. Johns Investment Management Company LLC grew its stake in Allstate by 2.2% during the fourth quarter. St. Johns Investment Management Company LLC now owns 3,955 shares of the insurance provider’s stock worth $554,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ALL shares. Evercore ISI boosted their price objective on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Roth Mkm boosted their target price on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Piper Sandler boosted their target price on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.59.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Allstate Trading Up 0.8 %

ALL opened at $160.06 on Thursday. The stock has a market capitalization of $42.24 billion, a PE ratio of 35.33, a P/E/G ratio of 1.50 and a beta of 0.50. The firm’s fifty day moving average price is $166.72 and its 200 day moving average price is $159.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.30) earnings per share. As a group, research analysts expect that The Allstate Co. will post 15.13 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.30%. Allstate’s dividend payout ratio (DPR) is 81.24%.

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.