Patton Albertson Miller Group LLC Sells 289 Shares of The Allstate Co. (NYSE:ALL)

Patton Albertson Miller Group LLC cut its position in shares of The Allstate Co. (NYSE:ALL) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,685 shares of the insurance provider’s stock after selling 289 shares during the period. Patton Albertson Miller Group LLC’s holdings in Allstate were worth $7,337,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ALL. Caxton Associates LP bought a new stake in Allstate in the first quarter worth $490,000. B. Riley Wealth Advisors Inc. boosted its holdings in Allstate by 28.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,945 shares of the insurance provider’s stock worth $683,000 after acquiring an additional 873 shares in the last quarter. Levin Capital Strategies L.P. bought a new stake in Allstate in the first quarter worth $225,000. Tidal Investments LLC lifted its holdings in shares of Allstate by 35.4% during the first quarter. Tidal Investments LLC now owns 27,999 shares of the insurance provider’s stock valued at $4,844,000 after purchasing an additional 7,324 shares in the last quarter. Finally, Alethea Capital Management LLC bought a new position in shares of Allstate during the first quarter valued at $578,000. 76.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALL shares. UBS Group upped their price target on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Bank of America upped their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Raymond James upped their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. TD Cowen upped their price objective on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $214.19.

Insider Activity at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Allstate Stock Performance

NYSE:ALL opened at $202.14 on Tuesday. 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 $205.35. The stock has a 50-day moving average price of $191.64 and a 200 day moving average price of $178.11. The stock has a market capitalization of $53.53 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.81 and a beta of 0.48.

Allstate (NYSE:ALL) last released its earnings results 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 return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the business posted $0.81 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. Equities research analysts forecast that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Friday, November 29th. Allstate’s payout ratio is presently 23.83%.

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.