The Allstate Corporation $ALL Stock: King Luther Capital Management Corp Reduces Stake

King Luther Capital Management Corp decreased its stake in The Allstate Corporation (NYSE:ALL) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,121 shares of the insurance provider’s stock after selling 1,882 shares during the quarter. King Luther Capital Management Corp’s holdings in Allstate were worth $21,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALL. BlackRock Inc. acquired a new position in shares of Allstate during the 2nd quarter worth about $5,439,448,000. Bank of America Corp DE bought a new stake in shares of Allstate in the 2nd quarter valued at about $1,410,362,000. GQG Partners LLC acquired a new stake in shares of Allstate in the 2nd quarter valued at approximately $1,245,710,000. Deutsche Bank AG acquired a new stake in shares of Allstate in the 2nd quarter valued at approximately $1,008,648,000. Finally, Legal & General Group Plc acquired a new stake in shares of Allstate in the 2nd quarter valued at approximately $455,302,000. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the topic of several recent analyst reports. Piper Sandler reduced their price objective on shares of Allstate from $300.00 to $294.00 and set an “overweight” rating on the stock in a research note on Monday. Evercore upped their target price on shares of Allstate from $240.00 to $262.00 in a research note on Thursday, October 8th. UBS Group increased their target price on shares of Allstate from $275.00 to $283.00 and gave the stock a “neutral” rating in a report on Tuesday. The Goldman Sachs Group cut their target price on shares of Allstate from $280.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Finally, TD Cowen lifted their price target on shares of Allstate from $231.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $273.48.

Allstate Price Performance

NYSE ALL opened at $266.68 on Friday. The business has a 50 day simple moving average of $246.06 and a 200 day simple moving average of $231.16. The Allstate Corporation has a 52-week low of $191.13 and a 52-week high of $281.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market cap of $65.99 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.56 and a beta of 0.13.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, November 4th. The insurance provider reported $9.76 EPS for the quarter, topping the consensus estimate of $6.89 by $2.87. Allstate had a net margin of 16.57% and a return on equity of 38.37%. The firm had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $15.87 billion. During the same period last year, the company posted $11.17 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. Analysts anticipate that The Allstate Corporation will post 37.33 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Monday, November 30th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. Allstate’s dividend payout ratio is currently 9.78%.

About Allstate

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.