Bank of Hawaii Sells 1,465 Shares of The Allstate Co. (NYSE:ALL)

Bank of Hawaii cut its stake in The Allstate Co. (NYSE:ALL) by 22.6% in the third quarter, HoldingsChannel.com reports. The fund owned 5,006 shares of the insurance provider’s stock after selling 1,465 shares during the period. Bank of Hawaii’s holdings in Allstate were worth $949,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. SPC Financial Inc. raised its holdings in shares of Allstate by 3.6% in the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares during the period. Lake Street Advisors Group LLC increased its position in Allstate by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock worth $596,000 after buying an additional 54 shares during the last quarter. Abacus Planning Group Inc. raised its stake in Allstate by 2.4% in the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after buying an additional 56 shares during the period. Chicago Partners Investment Group LLC raised its stake in Allstate by 1.3% in the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after buying an additional 59 shares during the period. Finally, Carmichael Hill & Associates Inc. lifted 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 buying an additional 60 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALL shares. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Barclays raised their target price on shares of Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Bank of America raised their price objective on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Piper Sandler upped their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.19.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Allstate Stock Performance

NYSE:ALL opened at $203.80 on Monday. The company has a market cap of $53.97 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.81 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 $205.35. 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 stock has a fifty day moving average price of $191.41 and a 200-day moving average price of $177.90.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. Allstate’s revenue was up 14.7% compared to the same quarter last year. As a group, equities analysts anticipate that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.81%. Allstate’s dividend payout ratio (DPR) is 23.83%.

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.