Parnassus Investments LLC Sells 24,382 Shares of The Allstate Co. (NYSE:ALL)

Parnassus Investments LLC decreased its holdings in The Allstate Co. (NYSE:ALL) by 5.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 460,205 shares of the insurance provider’s stock after selling 24,382 shares during the period. Parnassus Investments LLC’s holdings in Allstate were worth $87,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the third quarter worth about $28,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Allstate in the 3rd quarter valued at $29,000. Versant Capital Management Inc grew its position in Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Allstate in the second quarter worth $38,000. Finally, MCF Advisors LLC raised its stake in shares of Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ALL shares. BMO Capital Markets lifted their price target on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Evercore ISI boosted their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. UBS Group boosted their price objective on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Bank of America raised their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Piper Sandler upped their price objective on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

Insider Buying and Selling

In related 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 transaction of $6,959,916.46. Following the sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. This trade represents a 50.41 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Allstate Price Performance

Shares of NYSE:ALL opened at $199.97 on Tuesday. The Allstate Co. has a fifty-two week low of $132.74 and a fifty-two week high of $201.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a fifty day moving average price of $190.27 and a 200 day moving average price of $177.02. The firm has a market cap of $52.95 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.76 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. As a group, sell-side analysts expect that The Allstate Co. will post 16.01 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, November 29th. Allstate’s payout ratio is 23.83%.

Allstate Company 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.