Wellington Management Group LLP Cuts Position in The Allstate Co. (NYSE:ALL)

Wellington Management Group LLP lowered its position in shares of The Allstate Co. (NYSE:ALL) by 79.7% in the third quarter, Holdings Channel reports. The firm owned 959,789 shares of the insurance provider’s stock after selling 3,761,224 shares during the period. Wellington Management Group LLP’s holdings in Allstate were worth $182,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALL. OFI Invest Asset Management purchased a new position in shares of Allstate in the 2nd quarter valued at $476,000. Eagle Asset Management Inc. increased its holdings in Allstate by 38.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after purchasing an additional 2,888 shares in the last quarter. Bank of Montreal Can raised its position in Allstate by 1.7% in the third quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider’s stock valued at $128,758,000 after purchasing an additional 11,195 shares during the period. Diversified Trust Co lifted its stake in shares of Allstate by 505.3% during the second quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider’s stock worth $1,265,000 after purchasing an additional 6,614 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Allstate by 3.3% in the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after buying an additional 31,789 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent research reports. Jefferies Financial Group boosted their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Roth Mkm restated a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. Piper Sandler lifted their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. BMO Capital Markets upped their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Morgan Stanley lifted their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $217.19.

Allstate Price Performance

Shares of ALL opened at $203.64 on Monday. The Allstate Co. has a 52 week low of $134.17 and a 52 week high of $209.88. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a market cap of $53.92 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.80 and a beta of 0.50. The stock has a 50 day moving average of $194.40 and a 200-day moving average of $180.46.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share. As a group, analysts forecast that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.81%. Allstate’s dividend payout ratio (DPR) is 23.83%.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

About Allstate

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.