The Allstate Co. (NYSE:ALL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in The Allstate Co. (NYSE:ALL) by 3.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 439,322 shares of the insurance provider’s stock after selling 15,049 shares during the period. Thrivent Financial for Lutherans owned 0.17% of Allstate worth $70,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accretive Wealth Partners LLC purchased a new position in Allstate in the 4th quarter worth approximately $201,000. 9258 Wealth Management LLC increased its holdings in shares of Allstate by 10.9% in the fourth quarter. 9258 Wealth Management LLC now owns 10,034 shares of the insurance provider’s stock valued at $1,405,000 after purchasing an additional 987 shares during the last quarter. Wells Fargo & Company MN lifted its position in Allstate by 2.2% during the fourth quarter. Wells Fargo & Company MN now owns 484,435 shares of the insurance provider’s stock worth $67,811,000 after buying an additional 10,470 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Allstate during the fourth quarter worth $444,000. Finally, Trexquant Investment LP purchased a new stake in Allstate in the 4th quarter valued at $1,084,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ALL shares. JPMorgan Chase & Co. lifted their price target on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Bank of America lifted their target price on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler increased their price target on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. BMO Capital Markets lifted their price target on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Barclays began coverage on Allstate in a report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $192.76.

Insider Activity at Allstate

In other Allstate news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Toohey sold 16,682 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the transaction, the executive vice president now directly owns 4,873 shares in the company, valued at approximately $877,968.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,938 shares of company stock worth $36,122,740. Company insiders own 1.80% of the company’s stock.

Allstate Stock Up 0.2 %

Shares of ALL opened at $191.00 on Friday. The company’s 50-day simple moving average is $179.42 and its 200-day simple moving average is $170.27. 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 Allstate Co. has a 1 year low of $109.01 and a 1 year high of $193.19. The stock has a market capitalization of $50.41 billion, a PE ratio of 42.16, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same period in the prior year, the business earned ($4.42) EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Analysts forecast that The Allstate Co. will post 15.16 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. Investors of record on Friday, August 30th will be issued a $0.92 dividend. 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 (DPR) is presently 81.24%.

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.