Artemis Investment Management LLP Trims Holdings in The Allstate Co. (NYSE:ALL)

Artemis Investment Management LLP lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 50.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 301,231 shares of the insurance provider’s stock after selling 304,461 shares during the period. Artemis Investment Management LLP owned 0.11% of Allstate worth $57,128,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Abacus Planning Group Inc. increased its holdings in Allstate by 2.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 56 shares during the last quarter. Premier Path Wealth Partners LLC raised its holdings in shares of Allstate by 2.5% in the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock valued at $392,000 after buying an additional 61 shares during the last quarter. Aprio Wealth Management LLC increased its stake in shares of Allstate by 5.9% during the third quarter. Aprio Wealth Management LLC now owns 1,360 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 76 shares during the period. Everpar Advisors LLC raised its position in Allstate by 3.3% in the third quarter. Everpar Advisors LLC now owns 2,434 shares of the insurance provider’s stock worth $462,000 after acquiring an additional 77 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALL. Wells Fargo & Company cut their target price on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. BMO Capital Markets upped their price objective 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. Piper Sandler increased their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Bank of America raised their price target on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group raised their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $195.12.

Allstate Price Performance

Shares of NYSE:ALL opened at $182.87 on Wednesday. The firm has a market cap of $48.26 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 52 week low of $112.42 and a 52 week high of $193.97. 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 firm’s fifty day moving average is $183.42 and its 200-day moving average is $172.59.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($4.42) earnings per share. Sell-side analysts predict that The Allstate Co. will post 15.2 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, August 30th. Allstate’s dividend payout ratio is presently 81.24%.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 238,305 shares of company stock valued at $43,082,657. Company insiders own 1.80% of the company’s stock.

About Allstate

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.