The Allstate Corporation $ALL Position Reduced by Choate Investment Advisors

Choate Investment Advisors trimmed its stake in shares of The Allstate Corporation (NYSE:ALL) by 54.4% during the fourth quarter, HoldingsChannel reports. The fund owned 9,284 shares of the insurance provider’s stock after selling 11,084 shares during the quarter. Choate Investment Advisors’ holdings in Allstate were worth $1,932,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Navalign LLC bought a new position in Allstate during the 4th quarter valued at $27,000. Dorato Capital Management bought a new position in Allstate during the 4th quarter valued at $27,000. Palisade Asset Management LLC bought a new position in Allstate during the 3rd quarter valued at $31,000. Princeton Global Asset Management LLC boosted its stake in Allstate by 101.3% during the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 76 shares during the last quarter. Finally, South Plains Financial Inc. boosted 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 acquiring an additional 49 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Up 0.0%

Shares of NYSE:ALL opened at $216.64 on Tuesday. The stock has a market capitalization of $55.77 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 0.39 and a beta of 0.21. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62. The company’s fifty day moving average is $212.51 and its two-hundred day moving average is $208.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.53 earnings per share. Equities analysts anticipate that The Allstate Corporation will post 29.28 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio is 9.53%.

Insider Buying and Selling at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. JPMorgan Chase & Co. increased their price objective on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Mizuho dropped their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $241.67.

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.