Burney Co. Sells 6,184 Shares of The Allstate Corporation $ALL

Burney Co. reduced its holdings in The Allstate Corporation (NYSE:ALL) by 15.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,003 shares of the insurance provider’s stock after selling 6,184 shares during the quarter. Burney Co.’s holdings in Allstate were worth $7,258,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ALL. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter valued at $25,000. Navalign LLC acquired a new position in Allstate in the fourth quarter worth $27,000. Dorato Capital Management bought a new stake in shares of Allstate during the fourth quarter worth $27,000. Evolution Wealth Management Inc. grew its holdings in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in shares of Allstate in the third quarter valued at $31,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

Allstate stock opened at $248.46 on Tuesday. The business’s 50-day simple moving average is $220.59 and its 200 day simple moving average is $211.53. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $63.96 billion, a price-to-earnings ratio of 5.48, a P/E/G ratio of 0.44 and a beta of 0.16. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $250.38.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the previous year, the business posted $3.53 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that The Allstate Corporation will post 29.75 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. Allstate’s payout ratio is 9.53%.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was 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. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,353 shares of company stock valued at $4,851,560 over the last ninety days. Insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

ALL has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Allstate in a report on Thursday, June 18th. Barclays raised their price objective on shares of Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a research report on Tuesday. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company upped their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial increased their price target on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.26.

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.