The Allstate Co. (NYSE:ALL) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. cut its stake in shares of The Allstate Co. (NYSE:ALL) by 12.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,573 shares of the insurance provider’s stock after selling 625 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Allstate were worth $867,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC boosted its position in Allstate by 6.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 19,573 shares of the insurance provider’s stock worth $3,730,000 after purchasing an additional 1,245 shares during the period. Crewe Advisors LLC grew its holdings in Allstate by 5.1% during the 3rd quarter. Crewe Advisors LLC now owns 2,282 shares of the insurance provider’s stock worth $433,000 after acquiring an additional 110 shares in the last quarter. Larson Financial Group LLC increased its holdings in Allstate by 49.2% in the third quarter. Larson Financial Group LLC now owns 1,247 shares of the insurance provider’s stock valued at $236,000 after buying an additional 411 shares during the last quarter. Sompo Asset Management Co. Ltd. increased its holdings in shares of Allstate by 6.5% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 16,300 shares of the insurance provider’s stock valued at $3,091,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in Allstate by 29.9% during the third quarter. Cerity Partners LLC now owns 40,549 shares of the insurance provider’s stock valued at $7,694,000 after purchasing an additional 9,336 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 0.2 %

NYSE:ALL opened at $203.80 on Monday. 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 $53.97 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.81 and a beta of 0.48. The stock’s 50 day moving average price is $191.41 and its 200 day moving average price is $177.90. The Allstate Co. has a 52 week low of $134.17 and a 52 week high of $205.35.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, research analysts forecast that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 1.81%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is 23.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALL shares. Morgan Stanley upped their target price on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Barclays increased their price objective on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price objective 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $214.19.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of Allstate 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 sale, the insider now directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is 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.