Hancock Whitney Corp Has $11.98 Million Stock Position in The Allstate Co. (NYSE:ALL)

Hancock Whitney Corp grew its position in The Allstate Co. (NYSE:ALL) by 278.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,035 shares of the insurance provider’s stock after purchasing an additional 55,186 shares during the period. Hancock Whitney Corp’s holdings in Allstate were worth $11,980,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Allstate in the 1st quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate in the first quarter worth approximately $26,000. Versant Capital Management Inc grew its position in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Allstate during the 2nd quarter worth $38,000. Finally, MCF Advisors LLC raised its holdings in shares of 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 purchasing an additional 84 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALL. Piper Sandler upped their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group raised their price objective on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays started coverage on Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price for the company. Finally, TD Cowen lifted their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Allstate Stock Up 0.2 %

Shares of ALL opened at $191.00 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The company has a 50-day simple moving average of $179.42 and a 200-day simple moving average of $170.17. The Allstate Co. has a 52 week low of $109.01 and a 52 week high of $193.19. The firm has a market capitalization of $50.41 billion, a P/E ratio of 42.16, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm 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 posted ($4.42) EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities research analysts expect that The Allstate Co. will post 15.16 earnings per share for the current year.

Allstate Announces Dividend

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

Insider Buying and Selling at Allstate

In other news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Suren Gupta sold 45,775 shares of the firm’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 value of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The disclosure for this sale can be found here. Insiders have sold 201,938 shares of company stock valued at $36,122,740 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

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.