BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 6,486 Shares of The Allstate Co. (NYSE:ALL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 12.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 44,037 shares of the insurance provider’s stock after selling 6,486 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Allstate were worth $8,352,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Cetera Investment Advisers raised its holdings in Allstate by 351.6% in the first quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock worth $11,284,000 after purchasing an additional 50,780 shares during the period. Cetera Advisors LLC raised its stake in Allstate by 91.3% during the 1st quarter. Cetera Advisors LLC now owns 16,103 shares of the insurance provider’s stock worth $2,786,000 after buying an additional 7,684 shares during the period. GAMMA Investing LLC lifted its holdings in Allstate by 36.0% during the second quarter. GAMMA Investing LLC now owns 2,857 shares of the insurance provider’s stock worth $456,000 after acquiring an additional 757 shares in the last quarter. DNB Asset Management AS grew its stake in Allstate by 9.7% in the second quarter. DNB Asset Management AS now owns 47,644 shares of the insurance provider’s stock valued at $7,607,000 after acquiring an additional 4,203 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALL. Barclays increased their target price on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Evercore ISI boosted their price objective on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler increased their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Allstate Trading Down 0.4 %

Shares of NYSE:ALL opened at $207.39 on Monday. The Allstate Co. has a 52-week low of $134.17 and a 52-week high of $209.88. 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 company has a market capitalization of $54.92 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.82 and a beta of 0.48. The company has a 50-day simple moving average of $193.02 and a 200 day simple moving average of $179.19.

Allstate (NYSE:ALL) last issued 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. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. Sell-side analysts forecast that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio is presently 23.83%.

Insider Activity at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.