Edgestream Partners L.P. Sells 1,238 Shares of The Allstate Co. (NYSE:ALL)

Edgestream Partners L.P. decreased its holdings in shares of The Allstate Co. (NYSE:ALL) by 43.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,639 shares of the insurance provider’s stock after selling 1,238 shares during the quarter. Edgestream Partners L.P.’s holdings in Allstate were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake in shares of Allstate by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock valued at $884,508,000 after buying an additional 90,390 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after buying an additional 47,038 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Allstate by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock valued at $130,680,000 after buying an additional 8,454 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Allstate by 11.8% during the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock valued at $123,574,000 after buying an additional 75,698 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Allstate by 1.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,386 shares of the insurance provider’s stock valued at $118,925,000 after buying an additional 6,760 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ALL shares. JPMorgan Chase & Co. increased their price objective on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Bank of America increased their price objective on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley dropped their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. BMO Capital Markets increased their price objective on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.76.

Allstate Stock Performance

Shares of ALL opened at $192.82 on Tuesday. The Allstate Co. has a 12 month low of $109.01 and a 12 month high of $193.97. The stock has a fifty day moving average price of $179.94 and a 200-day moving average price of $170.61. 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 firm has a market cap of $50.89 billion, a PE ratio of 42.57, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings data 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 analyst estimates of $14.04 billion. During the same quarter in the prior year, the business posted ($4.42) EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts predict that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 1.91%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Insider Buying and Selling

In related news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Insiders sold 201,938 shares of company stock worth $36,122,740 in the last 90 days. 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.