Chevy Chase Trust Holdings LLC Sells 1,267 Shares of The Allstate Co. (NYSE:ALL)

Chevy Chase Trust Holdings LLC lowered its position in The Allstate Co. (NYSE:ALL) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,111 shares of the insurance provider’s stock after selling 1,267 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Allstate worth $23,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ALL. Focus Financial Network Inc. increased its position in Allstate by 3.7% during the second quarter. Focus Financial Network Inc. now owns 4,508 shares of the insurance provider’s stock worth $770,000 after buying an additional 162 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Allstate in the 2nd quarter valued at $2,893,000. First Citizens Bank & Trust Co. lifted its holdings in Allstate by 1.2% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 57,907 shares of the insurance provider’s stock valued at $9,245,000 after purchasing an additional 696 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Allstate by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock worth $130,680,000 after purchasing an additional 8,454 shares during the period. Finally, Vista Investment Partners LLC increased its holdings in shares of Allstate by 55.9% in the second quarter. Vista Investment Partners LLC now owns 3,884 shares of the insurance provider’s stock valued at $620,000 after purchasing an additional 1,392 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the transaction, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Allstate Price Performance

Shares of NYSE ALL traded down $0.22 during mid-day trading on Tuesday, reaching $180.40. The company had a trading volume of 1,261,465 shares, compared to its average volume of 1,564,359. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a one year low of $104.29 and a one year high of $184.30. The firm has a market cap of $47.61 billion, a price-to-earnings ratio of 39.67, a PEG ratio of 1.86 and a beta of 0.48. The business’s 50-day simple moving average is $166.79 and its 200 day simple moving average is $165.73.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter last year, the business earned ($4.42) earnings per share. Allstate’s revenue was up 12.4% on a year-over-year basis. On average, research analysts predict that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is presently 81.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALL. Bank of America raised their target price on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Wells Fargo & Company lowered their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday. Piper Sandler boosted their price target on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday. Finally, StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.94.

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.