Becker Capital Management Inc. Sells 2,447 Shares of The Allstate Corporation $ALL

Becker Capital Management Inc. decreased its position in shares of The Allstate Corporation (NYSE:ALL) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,919 shares of the insurance provider’s stock after selling 2,447 shares during the quarter. Allstate accounts for approximately 1.2% of Becker Capital Management Inc.’s investment portfolio, making the stock its 24th largest position. Becker Capital Management Inc.’s holdings in Allstate were worth $41,173,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. grew its position in Allstate by 3.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock valued at $4,745,000 after purchasing an additional 704 shares during the period. Truist Financial Corp increased its position in shares of Allstate by 4.7% during the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock worth $26,501,000 after acquiring an additional 5,542 shares in the last quarter. Commonwealth Retirement Investments LLC raised its holdings in shares of Allstate by 103.5% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock worth $2,609,000 after acquiring an additional 6,590 shares during the last quarter. Davis Capital Management bought a new position in Allstate in the 3rd quarter valued at about $2,767,000. Finally, First Horizon Corp acquired a new position in Allstate during the 3rd quarter valued at about $11,109,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on ALL shares. Wells Fargo & Company lowered their price objective on Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, February 20th. Wall Street Zen downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods raised their price objective on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Mizuho upped their target price on shares of Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Finally, UBS Group raised their price target on shares of Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $239.29.

Allstate Price Performance

Allstate stock opened at $214.17 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $204.23 and its 200 day simple moving average is $204.50. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $216.75. The company has a market cap of $55.59 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 0.45 and a beta of 0.23.

Allstate (NYSE:ALL) last issued 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. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $7.67 earnings per share. Sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.0%. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. Allstate’s payout ratio is currently 10.47%.

Allstate Profile

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.