Freedom Investment Management Inc. Sells 442 Shares of The Allstate Co. (NYSE:ALL)

Freedom Investment Management Inc. cut its holdings in shares of The Allstate Co. (NYSE:ALL) by 15.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,349 shares of the insurance provider’s stock after selling 442 shares during the period. Freedom Investment Management Inc.’s holdings in Allstate were worth $446,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. grew its position 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 valued at $683,000 after acquiring an additional 873 shares during the last quarter. Swedbank AB bought a new stake in shares of Allstate during the 1st quarter valued at approximately $5,480,000. Cetera Investment Advisers increased its position in Allstate by 351.6% during the 1st quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock worth $11,284,000 after purchasing an additional 50,780 shares in the last quarter. Cetera Advisors LLC lifted its stake in Allstate by 91.3% in the 1st quarter. Cetera Advisors LLC now owns 16,103 shares of the insurance provider’s stock valued at $2,786,000 after purchasing an additional 7,684 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. acquired a new stake in Allstate in the first quarter valued at approximately $381,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

ALL stock opened at $207.39 on Friday. The firm has a market cap of $54.92 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.83 and a beta of 0.48. 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 50-day moving average price of $193.02 and a 200-day moving average price of $179.03. The Allstate Co. has a 1-year low of $134.17 and a 1-year high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly 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 firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 earnings per share. As a group, equities research analysts expect that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

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 given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is currently 23.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALL. Morgan Stanley increased their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their target price on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. TD Cowen boosted their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $217.19.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Allstate Company 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.