The Allstate Co. (NYSE:ALL) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its holdings in The Allstate Co. (NYSE:ALL) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 165,268 shares of the insurance provider’s stock after selling 4,627 shares during the quarter. King Luther Capital Management Corp owned about 0.06% of Allstate worth $26,387,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in shares of Allstate in the 1st quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate in the first quarter valued at approximately $26,000. Versant Capital Management Inc boosted its position in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. purchased a new stake in Allstate in the 2nd quarter worth approximately $38,000. Finally, MCF Advisors LLC grew its stake in shares of Allstate by 33.9% during the 2nd 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 period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALL has been the subject of several analyst reports. BMO Capital Markets boosted their target price on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler lifted their price target on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, 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 research report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Allstate Stock Performance

ALL opened at $191.00 on Friday. The firm has a market capitalization of $50.41 billion, a PE ratio of 42.16, a PEG ratio of 1.74 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a twelve month low of $109.01 and a twelve month high of $193.19. The firm’s 50-day moving average price is $179.42 and its 200 day moving average price is $170.17.

Allstate (NYSE:ALL) last posted its quarterly 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. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same period in the prior year, the business earned ($4.42) earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Dividend Announcement

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 paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Insider Transactions at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the company’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 completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The disclosure for this sale can be found here. Insiders have sold a total of 201,938 shares of company stock worth $36,122,740 in the last quarter. Company insiders own 1.80% of the company’s stock.

Allstate 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.