Jacobi Capital Management LLC Cuts Position in The Allstate Co. (NYSE:ALL)

Jacobi Capital Management LLC decreased its holdings in The Allstate Co. (NYSE:ALL) by 38.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,080 shares of the insurance provider’s stock after selling 1,911 shares during the quarter. Jacobi Capital Management LLC’s holdings in Allstate were worth $533,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. SageView Advisory Group LLC purchased a new position in shares of Allstate in the fourth quarter valued at $456,000. Rafferty Asset Management LLC increased its position in shares of Allstate by 5.7% in the fourth quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock valued at $12,984,000 after buying an additional 4,987 shares in the last quarter. Ellsworth Advisors LLC purchased a new position in shares of Allstate in the fourth quarter valued at $4,312,000. SteelPeak Wealth LLC increased its position in shares of Allstate by 175.2% in the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after buying an additional 9,984 shares in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Allstate in the fourth quarter valued at $5,927,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 0.4 %

Shares of NYSE:ALL traded up $0.74 during mid-day trading on Tuesday, hitting $175.57. 111,972 shares of the company traded hands, compared to its average volume of 1,550,284. The firm has a market cap of $46.34 billion, a P/E ratio of 38.60, a PEG ratio of 1.96 and a beta of 0.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a 52-week low of $104.29 and a 52-week high of $179.93. The firm’s 50 day simple moving average is $163.81 and its 200 day simple moving average is $162.99.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted ($1.30) EPS. On average, equities analysts anticipate that The Allstate Co. will post 12.72 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 2.10%. Allstate’s payout ratio is currently 81.24%.

Insider Activity at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Morgan Stanley dropped their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. BMO Capital Markets upgraded Allstate from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $190.00 to $191.00 in a research report on Thursday, July 18th. Wells Fargo & Company lifted their price objective on Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. Finally, Piper Sandler lifted their price objective on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.06.

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.