The Allstate Co. (NYSE:ALL) Shares Sold by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL decreased its holdings in The Allstate Co. (NYSE:ALL) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,889 shares of the insurance provider’s stock after selling 1,500 shares during the quarter. Allstate accounts for approximately 3.7% of Birmingham Capital Management Co. Inc. AL’s investment portfolio, making the stock its 5th biggest holding. Birmingham Capital Management Co. Inc. AL’s holdings in Allstate were worth $10,220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ALL. FSA Wealth Management LLC purchased a new position in Allstate in the third quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC bought a new position in Allstate during the third quarter valued at $29,000. Family Firm Inc. purchased a new stake in Allstate in the second quarter worth $38,000. Finally, MCF Advisors LLC raised its stake in shares of Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of ALL traded up $2.85 during mid-day trading on Friday, hitting $195.15. 143,320 shares of the company traded hands, compared to its average volume of 1,543,318. The stock has a market cap of $51.68 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.70 and a beta of 0.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The Allstate Co. has a 1 year low of $134.17 and a 1 year high of $209.88. The stock has a 50-day moving average price of $194.84 and a two-hundred day moving average price of $181.08.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts anticipate that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Dividend Announcement

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 dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is 23.83%.

Analysts Set New Price Targets

ALL has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays increased their price target on shares of Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Bank of America lifted their price objective on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Piper Sandler raised their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Raymond James lifted their price target on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $217.19.

Insiders Place Their Bets

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

About Allstate

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.