Chevy Chase Trust Holdings LLC Sells 4,440 Shares of The Allstate Corporation $ALL

Chevy Chase Trust Holdings LLC cut its holdings in shares of The Allstate Corporation (NYSE:ALL) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,590 shares of the insurance provider’s stock after selling 4,440 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Allstate worth $29,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ALL. Harbor Capital Advisors Inc. raised its holdings in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC grew its position in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the period. Armstrong Advisory Group Inc. grew its position in Allstate by 72.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 67 shares during the period. South Plains Financial Inc. raised its stake in Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after buying an additional 49 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of Allstate during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Allstate Trading Up 0.9%

Allstate stock opened at $208.04 on Tuesday. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75. The firm has a market capitalization of $53.99 billion, a price-to-earnings ratio of 5.45, a P/E/G ratio of 0.43 and a beta of 0.23. The firm has a 50 day moving average of $204.57 and a 200 day moving average of $204.74. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The business had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.67 earnings per share. As a group, research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a $1.08 dividend. The ex-dividend date is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. Allstate’s dividend payout ratio (DPR) is presently 11.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Evercore set a $225.00 price target on Allstate in a research note on Wednesday, January 7th. Mizuho raised their target price on Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Wells Fargo & Company lowered their price objective on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, February 20th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.88.

Allstate Company 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.