Martingale Asset Management L P Sells 18,511 Shares of The Allstate Co. (NYSE:ALL)

Martingale Asset Management L P decreased its position in shares of The Allstate Co. (NYSE:ALL) by 10.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 150,777 shares of the insurance provider’s stock after selling 18,511 shares during the period. Martingale Asset Management L P’s holdings in Allstate were worth $28,595,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ALL. SPC Financial Inc. increased its stake in Allstate by 3.6% in the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after buying an additional 54 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Allstate by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock worth $596,000 after purchasing an additional 54 shares during the last quarter. Abacus Planning Group Inc. grew its stake in Allstate by 2.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after buying an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in Allstate by 1.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after buying an additional 59 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. grew its stake in Allstate by 15.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

ALL stock opened at $208.20 on Friday. The firm has a 50 day moving average of $192.69 and a 200-day moving average of $178.77. 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 Allstate Co. has a 12 month low of $134.17 and a 12 month high of $209.88. The firm has a market capitalization of $55.13 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. As a group, sell-side analysts predict that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. Allstate’s payout ratio is 23.83%.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was 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 through this link. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ALL. UBS Group boosted their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group upped their price target on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays increased their price objective on shares of Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Finally, StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.19.

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.