Navellier & Associates Inc. Cuts Holdings in The Allstate Corporation $ALL

Navellier & Associates Inc. decreased its holdings in The Allstate Corporation (NYSE:ALL) by 43.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,368 shares of the insurance provider’s stock after selling 14,248 shares during the period. Navellier & Associates Inc.’s holdings in Allstate were worth $3,943,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its stake in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares during the period. Clearstead Trust LLC increased its position in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 152 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Allstate by 315.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 126 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after buying an additional 67 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Down 3.7%

NYSE ALL opened at $199.91 on Tuesday. The firm has a market capitalization of $52.31 billion, a price-to-earnings ratio of 5.23, a PEG ratio of 0.45 and a beta of 0.24. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75. The company has a fifty day moving average of $203.68 and a two-hundred day moving average of $203.92. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $14.57 billion during the quarter, compared to analyst estimates of $17.23 billion. During the same quarter in the previous year, the business earned $7.67 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $1.08 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 annualized dividend and a yield of 2.2%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is 10.47%.

Analyst Upgrades and Downgrades

ALL has been the topic of several recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 price target on shares of Allstate in a research report on Thursday, February 5th. Wall Street Zen lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Roth Mkm lifted their target price on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $215.00 price objective (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $240.13.

Insider Activity at Allstate

In other Allstate news, insider Suren Gupta sold 21,871 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares in the company, valued at $21,660,025.66. This trade represents a 17.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 48,400 shares of company stock worth $10,313,256 over the last 90 days. Company insiders own 1.70% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.