The Allstate Corporation $ALL Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in The Allstate Corporation (NYSE:ALL) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,847,128 shares of the insurance provider’s stock after selling 11,147 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.72% of Allstate worth $382,983,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its holdings in shares of Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after acquiring an additional 50 shares during the period. Compound Planning Inc. increased its stake in Allstate by 1.6% in the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after purchasing an additional 50 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after buying an additional 52 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of Allstate by 4.7% in the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock valued at $243,000 after buying an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. grew its holdings in shares of Allstate by 10.2% during the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 3.3%

Shares of ALL stock opened at $249.84 on Friday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $257.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The business’s fifty day moving average price is $227.29 and its 200 day moving average price is $214.36. The firm has a market capitalization of $64.31 billion, a PE ratio of 5.51, a P/E/G ratio of 0.42 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its quarterly 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 business 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 business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.53 EPS. As a group, sell-side analysts forecast that The Allstate Corporation will post 30.26 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a $1.08 dividend. 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 dividend payout ratio is 9.53%.

Insider Activity

In other news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This trade 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 worth $4,851,560 over the last 90 days. 1.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ALL. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. UBS Group downgraded Allstate from a “buy” rating to a “neutral” rating and increased their price target for the stock from $255.00 to $261.00 in a report on Wednesday. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and lifted their price objective for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Morgan Stanley upped their price objective on shares of Allstate from $215.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company raised their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.80.

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.