The Allstate Corporation $ALL Stock Holdings Lessened by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its stake in shares of The Allstate Corporation (NYSE:ALL) by 4.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 116,845 shares of the insurance provider’s stock after selling 5,074 shares during the period. King Luther Capital Management Corp’s holdings in Allstate were worth $25,081,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Avestar Capital LLC purchased a new stake in shares of Allstate during the third quarter valued at $323,000. NewEdge Wealth LLC raised its holdings in Allstate by 1.2% during the 3rd quarter. NewEdge Wealth LLC now owns 5,604 shares of the insurance provider’s stock worth $1,203,000 after buying an additional 69 shares during the period. Alberta Investment Management Corp lifted its stake in Allstate by 18.6% during the third quarter. Alberta Investment Management Corp now owns 26,800 shares of the insurance provider’s stock valued at $5,753,000 after buying an additional 4,200 shares in the last quarter. Grange Capital LLC acquired a new position in shares of Allstate in the third quarter worth about $3,405,000. Finally, Syon Capital LLC increased its position in shares of Allstate by 22.8% in the third quarter. Syon Capital LLC now owns 3,774 shares of the insurance provider’s stock worth $810,000 after acquiring an additional 701 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the transaction, the insider directly owned 100,646 shares in the company, valued at $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 24,729 shares of company stock worth $5,219,282 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Allstate Trading Down 3.0%

Shares of NYSE ALL opened at $203.25 on Friday. The business has a 50 day simple moving average of $204.00 and a 200 day simple moving average of $204.38. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75. The stock has a market cap of $53.19 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 0.44 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37.

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

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $1.08 dividend. This is a boost from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio is currently 10.47%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALL shares. Mizuho upped their price target on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. UBS Group increased their target price on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a report on Monday, November 10th. Citigroup lifted their price target on Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. The Goldman Sachs Group restated a “buy” rating and set a $238.00 price objective on shares of Allstate in a research report on Saturday, February 7th. Finally, TD Cowen downgraded Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $239.35.

Allstate Company 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.