Peddock Capital Advisors LLC Reduces Stock Position in The Allstate Co. (NYSE:ALL)

Peddock Capital Advisors LLC reduced its holdings in The Allstate Co. (NYSE:ALL) by 6.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,078 shares of the insurance provider’s stock after selling 1,189 shares during the period. Peddock Capital Advisors LLC’s holdings in Allstate were worth $2,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brookstone Capital Management boosted its stake in shares of Allstate by 5.7% during the 2nd quarter. Brookstone Capital Management now owns 6,732 shares of the insurance provider’s stock worth $1,149,000 after purchasing an additional 364 shares during the period. Blue Trust Inc. boosted its stake in shares of Allstate by 49.8% during the 2nd quarter. Blue Trust Inc. now owns 1,570 shares of the insurance provider’s stock worth $272,000 after purchasing an additional 522 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of Allstate by 100.0% during the 2nd quarter. Miracle Mile Advisors LLC now owns 3,194 shares of the insurance provider’s stock worth $510,000 after purchasing an additional 1,597 shares during the period. Wilsey Asset Management Inc. boosted its stake in shares of Allstate by 6.9% during the 2nd quarter. Wilsey Asset Management Inc. now owns 213,503 shares of the insurance provider’s stock worth $34,088,000 after purchasing an additional 13,800 shares during the period. Finally, Ellsworth Advisors LLC boosted its stake in shares of Allstate by 2.1% during the 2nd quarter. Ellsworth Advisors LLC now owns 32,479 shares of the insurance provider’s stock worth $5,186,000 after purchasing an additional 662 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALL shares. Piper Sandler lifted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets lifted their price objective on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. The Goldman Sachs Group lifted their price objective on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $191.94.

Allstate Stock Up 0.9 %

Shares of Allstate stock traded up $1.53 on Friday, reaching $179.64. The stock had a trading volume of 1,236,030 shares, compared to its average volume of 1,569,601. The company has a 50 day moving average price of $166.45 and a 200 day moving average price of $165.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 1 year low of $104.29 and a 1 year high of $184.30. The stock has a market capitalization of $47.41 billion, a P/E ratio of 39.66, a P/E/G ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter in the previous year, the firm earned ($4.42) EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is currently 81.24%.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by 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.