Avior Wealth Management LLC Sells 1,148 Shares of The Allstate Co. (NYSE:ALL)

Avior Wealth Management LLC reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 23.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,683 shares of the insurance provider’s stock after selling 1,148 shares during the period. Avior Wealth Management LLC’s holdings in Allstate were worth $516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Sei Investments Co. boosted its holdings in Allstate by 40.2% in the first quarter. Sei Investments Co. now owns 187,869 shares of the insurance provider’s stock valued at $26,022,000 after acquiring an additional 53,824 shares during the last quarter. Prudential PLC acquired a new position in shares of Allstate in the 1st quarter worth approximately $1,325,000. Cetera Investment Advisers boosted its stake in shares of Allstate by 13.9% in the 1st quarter. Cetera Investment Advisers now owns 23,536 shares of the insurance provider’s stock valued at $3,260,000 after purchasing an additional 2,874 shares during the last quarter. Dakota Wealth Management bought a new stake in shares of Allstate in the 1st quarter valued at $270,000. Finally, Sequoia Financial Advisors LLC increased its position in shares of Allstate by 36.2% during the first quarter. Sequoia Financial Advisors LLC now owns 3,237 shares of the insurance provider’s stock worth $448,000 after buying an additional 860 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of NYSE ALL opened at $169.12 on Friday. The stock has a market cap of $44.49 billion, a price-to-earnings ratio of -136.39, a PEG ratio of 0.40 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $174.57. The firm’s 50-day simple moving average is $163.59 and its 200 day simple moving average is $146.60.

Allstate (NYSE:ALL) last posted its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The company had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. During the same quarter last year, the company earned ($1.36) earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Co. will post 13.5 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.18%. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. Allstate’s payout ratio is currently -296.77%.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Evercore ISI raised their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and lifted their target price for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. TD Cowen assumed coverage on Allstate in a report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price target on the stock. Finally, TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.71.

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.