Alpha Cubed Investments LLC Cuts Stock Holdings in The Allstate Co. (NYSE:ALL)

Alpha Cubed Investments LLC lowered its stake in The Allstate Co. (NYSE:ALL) by 42.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,784 shares of the insurance provider’s stock after selling 1,343 shares during the period. Alpha Cubed Investments LLC’s holdings in Allstate were worth $338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in Allstate by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after purchasing an additional 47,038 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Allstate by 3.3% in the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after purchasing an additional 31,789 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Allstate by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock worth $130,680,000 after buying an additional 8,454 shares during the period. AQR Capital Management LLC raised its holdings in Allstate by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after buying an additional 464,337 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Allstate by 11.8% during the 1st 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 period. Institutional investors own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm’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 completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred 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 $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of the business’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 owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 238,305 shares of company stock valued at $43,082,657 in the last quarter. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALL. Wells Fargo & Company decreased their price objective on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods increased their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Morgan Stanley reduced their target price on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Finally, Bank of America lifted their price target on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average price target of $195.12.

Allstate Trading Up 0.9 %

NYSE:ALL opened at $182.87 on Wednesday. The firm has a market capitalization of $48.26 billion, a P/E ratio of 40.37, a PEG ratio of 1.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Co. has a one year low of $112.42 and a one year high of $193.97. The company’s 50-day simple moving average is $183.42 and its 200 day simple moving average is $172.59.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($4.42) EPS. As a group, analysts forecast that The Allstate Co. will post 15.2 EPS for the current fiscal year.

Allstate Announces Dividend

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 $0.92 dividend. 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%.

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.