The Allstate Co. (NYSE:ALL) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co lessened its stake in The Allstate Co. (NYSE:ALL) by 26.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,308 shares of the insurance provider’s stock after selling 481 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Allstate were worth $249,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC acquired a new stake in shares of Allstate in the 3rd quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the third quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new stake in Allstate during the third quarter worth about $29,000. Family Firm Inc. purchased a new position in Allstate during the second quarter worth about $38,000. Finally, MCF Advisors LLC boosted its holdings in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $196.25 on Friday. The Allstate Co. has a 52 week low of $134.17 and a 52 week high of $209.88. The company has a fifty day simple moving average of $194.95 and a two-hundred day simple moving average of $181.30. 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 company has a market cap of $51.97 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50.

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

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.88%. Allstate’s payout ratio is 23.83%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Raymond James lifted their target price on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. Barclays increased their price target on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, TD Cowen increased their target price on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Allstate Company 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.