Los Angeles Capital Management LLC Sells 586,788 Shares of The Allstate Co. (NYSE:ALL)

Los Angeles Capital Management LLC decreased its position in The Allstate Co. (NYSE:ALL) by 96.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,650 shares of the insurance provider’s stock after selling 586,788 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Allstate were worth $2,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors L.P. grew its holdings in Allstate by 6.1% during the fourth quarter. Natixis Advisors L.P. now owns 264,960 shares of the insurance provider’s stock valued at $37,087,000 after purchasing an additional 15,163 shares during the period. First Horizon Advisors Inc. increased its holdings in Allstate by 1.1% in the 4th quarter. First Horizon Advisors Inc. now owns 67,788 shares of the insurance provider’s stock worth $9,489,000 after acquiring an additional 715 shares in the last quarter. Fisher Asset Management LLC bought a new stake in Allstate during the 4th quarter worth approximately $275,000. First Trust Direct Indexing L.P. lifted its holdings in Allstate by 13.4% during the fourth quarter. First Trust Direct Indexing L.P. now owns 7,390 shares of the insurance provider’s stock valued at $1,035,000 after purchasing an additional 873 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Allstate by 103.7% in the fourth quarter. Victory Capital Management Inc. now owns 166,495 shares of the insurance provider’s stock worth $23,306,000 after purchasing an additional 84,741 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In related news, CAO John C. Pintozzi sold 4,000 shares of Allstate 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 in the company, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Allstate 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 transaction of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on ALL shares. Morgan Stanley raised their price objective on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Piper Sandler upped their price objective on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Raymond James increased their target price on Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 22nd. The Goldman Sachs Group boosted their price target on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Finally, BMO Capital Markets increased their price objective on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $174.18.

Allstate Price Performance

NYSE:ALL opened at $170.08 on Tuesday. The firm has a market capitalization of $44.89 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 0.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $166.27 and a 200-day simple moving average of $151.59. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $177.37.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. During the same period last year, the company earned ($1.30) earnings per share. Allstate’s revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that The Allstate Co. will post 14.57 EPS for the current 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 paid a $0.92 dividend. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.16%. This is an increase from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

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.