Fisher Asset Management LLC Sells 778 Shares of The Allstate Co. (NYSE:ALL)

Fisher Asset Management LLC reduced its position in The Allstate Co. (NYSE:ALLGet Rating) by 24.0% in the 1st quarter, reports. The fund owned 2,466 shares of the insurance provider’s stock after selling 778 shares during the period. Fisher Asset Management LLC’s holdings in Allstate were worth $342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. US Asset Management LLC bought a new position in shares of Allstate during the first quarter valued at approximately $32,000. MCF Advisors LLC purchased a new stake in Allstate during the first quarter worth $34,000. Chilton Capital Management LLC purchased a new position in shares of Allstate in the 4th quarter valued at $35,000. Concorde Financial Corp bought a new position in shares of Allstate in the 4th quarter worth $36,000. Finally, Horan Securities Inc. bought a new stake in Allstate during the fourth quarter valued at about $40,000. 75.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Allstate

In other news, CEO Thomas J. Wilson sold 142,000 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $133.39, for a total transaction of $18,941,380.00. Following the sale, the chief executive officer now directly owns 99,828 shares in the company, valued at approximately $13,316,056.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.77% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on ALL. Argus lowered shares of Allstate from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Wells Fargo & Company lowered their price objective on Allstate from $116.00 to $110.00 and set an “underweight” rating for the company in a research report on Thursday, July 21st. Piper Sandler reduced their target price on Allstate from $150.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, April 22nd. TheStreet downgraded Allstate from a “b” rating to a “c+” rating in a report on Wednesday. Finally, Raymond James cut their price objective on shares of Allstate from $165.00 to $155.00 in a report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $142.58.

Allstate Stock Performance

Shares of ALL stock opened at $117.00 on Friday. The Allstate Co. has a 52-week low of $106.11 and a 52-week high of $144.46. The company has a quick ratio of 0.43, a current ratio of 0.40 and a debt-to-equity ratio of 0.44. The stock has a market cap of $31.63 billion, a PE ratio of 40.77, a price-to-earnings-growth ratio of 4.93 and a beta of 0.73. The business has a 50-day simple moving average of $124.31 and a 200-day simple moving average of $127.64.

Allstate (NYSE:ALLGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.51. Allstate had a return on equity of 7.53% and a net margin of 1.99%. During the same period in the prior year, the firm earned $3.79 earnings per share. On average, equities analysts expect that The Allstate Co. will post 5.28 EPS for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Wednesday, August 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.40 annualized dividend and a yield of 2.91%. Allstate’s dividend payout ratio is presently 118.47%.

About Allstate

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

Further Reading

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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