AMG National Trust Bank Lowers Position in The Allstate Co. (NYSE:ALL)

AMG National Trust Bank reduced its position in shares of The Allstate Co. (NYSE:ALL) by 58.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,293 shares of the insurance provider’s stock after selling 20,303 shares during the period. AMG National Trust Bank’s holdings in Allstate were worth $2,711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its stake in shares of Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after buying an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares during the period. AQR Capital Management LLC raised its position in Allstate by 181.6% in the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after acquiring an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Allstate in the third quarter valued at $77,819,000. Finally, Acadian Asset Management LLC boosted its position in shares of Allstate by 3,839.0% during the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after purchasing an additional 405,553 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE ALL opened at $199.97 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The Allstate Co. has a 1-year low of $132.74 and a 1-year high of $201.00. The firm has a market capitalization of $52.95 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.75 and a beta of 0.48. The business’s 50-day simple moving average is $190.27 and its 200-day simple moving average is $177.02.

Allstate (NYSE:ALL) last released 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. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts predict that The Allstate Co. will post 16.01 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.84%. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Insider Activity at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 27,364 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. This trade represents a 50.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALL shares. Barclays increased their price target on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Evercore ISI boosted their price target on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. TD Cowen raised their price objective on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Raymond James raised their target price on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $214.19.

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.