AMG National Trust Bank Decreases Stake in The Allstate Co. (NYSE:ALL)

AMG National Trust Bank trimmed its holdings in The Allstate Co. (NYSE:ALL) by 58.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALL. Pathway Financial Advisers LLC raised its holdings in Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after acquiring an additional 1,047,019 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Allstate by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after acquiring an additional 472,040 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Allstate by 181.6% in the 2nd 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 during the last quarter. TimesSquare Capital Management LLC acquired a new stake in Allstate in the 3rd quarter valued at approximately $77,819,000. Finally, Acadian Asset Management LLC increased its holdings in Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after purchasing an additional 405,553 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Bank of America boosted their price target on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group increased their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $214.19.

Allstate Price Performance

ALL stock opened at $199.97 on Tuesday. The stock has a market cap of $52.95 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.75 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $132.74 and a fifty-two week high of $201.00. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $190.27 and a 200 day moving average price of $177.02.

Allstate (NYSE:ALL) last issued its 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. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts anticipate that The Allstate Co. will post 16.01 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced 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 1.84%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is currently 23.83%.

Insider Activity at Allstate

In related 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This represents a 50.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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.