King Luther Capital Management Corp Reduces Stock Position in The Allstate Co. (NYSE:ALL)

King Luther Capital Management Corp trimmed its position in shares of The Allstate Co. (NYSE:ALL) by 5.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,320 shares of the insurance provider’s stock after selling 8,948 shares during the period. King Luther Capital Management Corp’s holdings in Allstate were worth $29,646,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in Allstate by 154.2% in the first quarter. Acadian Asset Management LLC now owns 10,564 shares of the insurance provider’s stock valued at $1,825,000 after buying an additional 6,409 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Allstate during the 1st quarter worth approximately $498,000. CreativeOne Wealth LLC grew its stake in Allstate by 12.5% in the 1st quarter. CreativeOne Wealth LLC now owns 6,113 shares of the insurance provider’s stock worth $1,057,000 after acquiring an additional 677 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Allstate by 97.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 271,464 shares of the insurance provider’s stock valued at $46,966,000 after buying an additional 134,028 shares during the period. Finally, Quadrature Capital Ltd grew its stake in shares of Allstate by 5.6% during the 1st quarter. Quadrature Capital Ltd now owns 49,129 shares of the insurance provider’s stock valued at $8,500,000 after buying an additional 2,612 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

NYSE ALL opened at $197.29 on Thursday. The Allstate Co. has a twelve month low of $134.17 and a twelve month high of $201.00. The stock has a market capitalization of $52.24 billion, a PE ratio of 12.78, a P/E/G ratio of 1.76 and a beta of 0.48. The stock has a 50-day simple moving average of $190.76 and a 200 day simple moving average of $177.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share 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 last year, the business posted $0.81 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Research analysts anticipate that The Allstate Co. will post 16.01 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.87%. Allstate’s dividend payout ratio is currently 23.83%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets boosted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. UBS Group lifted their target price on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, The Goldman Sachs Group upped their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $214.19.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the business’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 transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.