Financial Counselors Inc. Reduces Holdings in The Allstate Co. (NYSE:ALL)

Financial Counselors Inc. lowered its position in The Allstate Co. (NYSE:ALL) by 1.5% during the third quarter, HoldingsChannel reports. The firm owned 96,962 shares of the insurance provider’s stock after selling 1,492 shares during the period. Financial Counselors Inc.’s holdings in Allstate were worth $18,389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SPC Financial Inc. lifted its stake in shares of Allstate by 3.6% in the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock worth $297,000 after buying an additional 54 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in Allstate by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after acquiring an additional 54 shares during the last quarter. Abacus Planning Group Inc. lifted its stake in Allstate by 2.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after purchasing an additional 56 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after purchasing an additional 59 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. grew its position in shares of Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $208.19 on Thursday. The company has a market cap of $55.13 billion, a P/E ratio of 13.48, a PEG ratio of 1.80 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $134.17 and a fifty-two week high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average price is $192.34 and its 200 day moving average price is $178.57.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. On average, research analysts forecast that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is 23.83%.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALL shares. Keefe, Bruyette & Woods lifted their price objective on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore ISI lifted their target price on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley increased their price target on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.19.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.