Janney Capital Management LLC Cuts Stake in The Allstate Corporation $ALL

Janney Capital Management LLC lessened its holdings in The Allstate Corporation (NYSE:ALL) by 16.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,056 shares of the insurance provider’s stock after selling 3,223 shares during the quarter. Janney Capital Management LLC’s holdings in Allstate were worth $3,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arlington Trust Co LLC boosted its holdings in shares of Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Allstate by 79.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after buying an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC increased its stake in shares of Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Clearstead Trust LLC increased its position in Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after buying an additional 152 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Allstate by 315.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 48,400 shares of company stock valued at $10,313,256 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ALL shares. UBS Group increased their target price on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Wells Fargo & Company boosted their price objective on Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. increased their price target on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Evercore ISI set a $225.00 target price on shares of Allstate in a report on Wednesday, January 7th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $235.69.

Allstate Trading Down 1.7%

Shares of ALL stock opened at $208.53 on Tuesday. The company has a market cap of $54.57 billion, a PE ratio of 6.75, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.89. The stock’s 50 day simple moving average is $207.69 and its two-hundred day simple moving average is $203.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The firm had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the previous year, the business earned $3.91 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $1.00 per share. The ex-dividend date was Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate’s payout ratio is 12.95%.

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.