The Allstate Corporation $ALL Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its holdings in The Allstate Corporation (NYSE:ALL) by 71.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 17,354 shares of the insurance provider’s stock after selling 42,801 shares during the quarter. Assetmark Inc.’s holdings in Allstate were worth $3,598,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. MV Capital Management Inc. acquired a new position in Allstate in the 4th quarter valued at about $25,000. Navalign LLC purchased a new stake in Allstate during the 4th quarter valued at approximately $27,000. Dorato Capital Management acquired a new stake in Allstate during the 4th quarter worth approximately $27,000. Evolution Wealth Management Inc. lifted its position in Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Finally, Palisade Asset Management LLC purchased a new position in shares of Allstate in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 0.1%

Shares of ALL opened at $252.10 on Thursday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $257.67. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $64.90 billion, a P/E ratio of 5.56, a PEG ratio of 0.43 and a beta of 0.16. The firm’s 50-day moving average is $229.54 and its two-hundred day moving average is $215.33.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $3.53 EPS. On average, research analysts predict that The Allstate Corporation will post 30.51 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s payout ratio is currently 9.53%.

Insider Buying and Selling

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the business’s 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 in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALL. Barclays boosted their target price on Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a report on Tuesday, July 7th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a report on Monday. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Mizuho boosted their price objective on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, UBS Group downgraded shares of Allstate from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $255.00 to $261.00 in a research report on Wednesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $254.80.

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.