Benjamin Edwards Inc. Cuts Stake in The Allstate Co. (NYSE:ALL)

Benjamin Edwards Inc. trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 18.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,596 shares of the insurance provider’s stock after selling 798 shares during the period. Benjamin Edwards Inc.’s holdings in Allstate were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Palestra Capital Management LLC purchased a new position in Allstate during the fourth quarter valued at approximately $83,561,000. Balyasny Asset Management L.P. purchased a new position in shares of Allstate in the 4th quarter valued at $81,571,000. Artemis Investment Management LLP purchased a new position in shares of Allstate in the 1st quarter valued at $95,764,000. Acadian Asset Management LLC lifted its stake in shares of Allstate by 3,839.0% during the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after purchasing an additional 405,553 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Allstate by 757.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 340,274 shares of the insurance provider’s stock valued at $54,328,000 after purchasing an additional 300,572 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. 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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate 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 sale, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,938 shares of company stock worth $36,122,740. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley reduced their target price on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. Bank of America upped their price target on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays initiated coverage on Allstate in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price objective for the company. Finally, Piper Sandler upped their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Allstate Stock Performance

NYSE ALL opened at $191.00 on Friday. The firm has a market capitalization of $50.41 billion, a P/E ratio of 42.16, a PEG ratio of 1.74 and a beta of 0.48. The stock has a 50-day simple moving average of $179.42 and a two-hundred day simple moving average of $170.17. 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 fifty-two week low of $109.01 and a fifty-two week high of $193.19.

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, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. Allstate’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted ($4.42) earnings per share. On average, equities analysts forecast that The Allstate Co. will post 15.16 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued 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 1.93%. Allstate’s payout ratio is 81.24%.

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.