Bank OZK Cuts Stock Position in The Allstate Co. (NYSE:ALL)

Bank OZK cut its holdings in The Allstate Co. (NYSE:ALL) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,271 shares of the insurance provider’s stock after selling 90 shares during the quarter. Bank OZK’s holdings in Allstate were worth $878,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALL. Vanguard Group Inc. increased its position in shares of Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after buying an additional 3,322,673 shares in the last quarter. Invesco Ltd. increased its position in shares of Allstate by 46.6% during the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after purchasing an additional 1,311,095 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Allstate by 23.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock worth $466,163,000 after purchasing an additional 782,696 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Allstate by 49.5% during the third quarter. Nordea Investment Management AB now owns 1,640,174 shares of the insurance provider’s stock worth $183,388,000 after purchasing an additional 542,842 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Allstate by 16.9% during the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock worth $412,396,000 after purchasing an additional 536,137 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 1.3 %

Shares of Allstate stock traded down $2.27 during trading hours on Friday, hitting $170.07. The company’s stock had a trading volume of 1,279,038 shares, compared to its average volume of 1,336,406. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $176.93. The firm has a fifty day moving average of $165.09 and a 200-day moving average of $149.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating the consensus estimate 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 business had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. During the same quarter in the prior year, the company posted ($1.36) EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.16%. Allstate’s dividend payout ratio is presently -296.77%.

Analyst Upgrades and Downgrades

ALL has been the subject of several research reports. Wells Fargo & Company boosted their price target on Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Roth Mkm boosted their price target on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. TheStreet upgraded Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. 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 research report on Monday, March 25th. Finally, Morgan Stanley upped their target price on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, April 15th. 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 issued a strong buy rating to the stock. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $173.71.

Insider Buying and Selling

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