Atria Investments Inc Sells 1,276 Shares of The Allstate Co. (NYSE:ALL)

Atria Investments Inc cut its stake in The Allstate Co. (NYSE:ALL) by 6.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,470 shares of the insurance provider’s stock after selling 1,276 shares during the quarter. Atria Investments Inc’s holdings in Allstate were worth $3,195,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Allstate in the 1st quarter worth about $25,000. Private Wealth Management Group LLC bought a new position in shares of Allstate in the 4th quarter worth about $25,000. Rise Advisors LLC bought a new position in shares of Allstate in the 1st quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate in the 1st quarter worth about $26,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Allstate in the 4th quarter worth about $36,000. 76.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on ALL shares. BMO Capital Markets upgraded shares of Allstate from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $190.00 to $191.00 in a research note on Thursday, July 18th. Wells Fargo & Company increased their price target on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. The Goldman Sachs Group raised their price objective on shares of Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, July 19th. StockNews.com upgraded shares of Allstate from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Bank of America raised their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.24.

Allstate Stock Performance

Shares of ALL traded down $0.56 on Friday, reaching $176.82. The company’s stock had a trading volume of 1,699,634 shares, compared to its average volume of 1,456,058. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $46.69 billion, a P/E ratio of 39.03, a PEG ratio of 1.86 and a beta of 0.48. The stock’s 50 day simple moving average is $164.68 and its two-hundred day simple moving average is $164.17. The Allstate Co. has a 12-month low of $104.29 and a 12-month high of $180.87.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.42) earnings per share. Research analysts forecast that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.