Linscomb Wealth Inc. Sells 856 Shares of The Allstate Co. (NYSE:ALL)

Linscomb Wealth Inc. reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 17.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,025 shares of the insurance provider’s stock after selling 856 shares during the period. Linscomb Wealth Inc.’s holdings in Allstate were worth $763,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Allstate by 18.7% in 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 purchasing an additional 472,040 shares during the period. Raymond James & Associates increased its stake in shares of Allstate by 10.6% in the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after purchasing an additional 145,986 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Allstate by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after purchasing an additional 47,038 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Allstate by 3.3% in the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after purchasing an additional 31,789 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Toohey sold 16,682 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. This represents a 77.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,049 shares of company stock valued at $26,106,112 in the last quarter. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $196.88 on Friday. The Allstate Co. has a 1 year low of $131.65 and a 1 year high of $201.00. The firm has a 50 day moving average of $190.01 and a 200-day moving average of $176.72. 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 stock has a market capitalization of $52.13 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48.

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. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 EPS. As a group, sell-side analysts anticipate that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently declared 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. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is 23.83%.

Analysts Set New Price Targets

ALL has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Keefe, Bruyette & Woods lifted their target price on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group lifted their target price on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Raymond James lifted their target price on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. Finally, Bank of America lifted their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. 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 company. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price 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.