Accurate Wealth Management LLC Sells 2,832 Shares of The Allstate Corporation $ALL

Accurate Wealth Management LLC lessened its holdings in shares of The Allstate Corporation (NYSE:ALL) by 21.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,085 shares of the insurance provider’s stock after selling 2,832 shares during the quarter. Accurate Wealth Management LLC’s holdings in Allstate were worth $2,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALL. South Plains Financial Inc. lifted its holdings in shares of Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares in the last quarter. Humankind Investments LLC grew its holdings in shares of Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock worth $256,000 after buying an additional 51 shares in the last quarter. Focus Financial Network Inc. raised its position in Allstate by 1.1% in the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after buying an additional 52 shares during the last quarter. L2 Asset Management LLC lifted its stake in Allstate by 4.8% in the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 53 shares in the last quarter. Finally, Howard Capital Management Inc. lifted its stake in Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock valued at $373,000 after acquiring an additional 54 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ALL. William Blair cut shares of Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Citigroup upped their target price on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.94.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction that occurred on 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Allstate Trading Down 2.1%

Shares of NYSE:ALL opened at $202.71 on Friday. The company has a market capitalization of $52.61 billion, a P/E ratio of 5.31, a P/E/G ratio of 0.42 and a beta of 0.23. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $216.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The business’s 50 day simple moving average is $205.03 and its 200 day simple moving average is $204.85.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period last year, the firm earned $7.67 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders 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 dividend yield of 2.1%. This is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio (DPR) is presently 11.31%.

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.