Parnassus Investments LLC Has $87.28 Million Stake in The Allstate Co. (NYSE:ALL)

Parnassus Investments LLC decreased its holdings in The Allstate Co. (NYSE:ALL) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 460,205 shares of the insurance provider’s stock after selling 24,382 shares during the period. Parnassus Investments LLC owned about 0.17% of Allstate worth $87,278,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC lifted its stake in 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 valued at $199,642,000 after acquiring an additional 1,047,019 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in 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 worth $569,114,000 after buying an additional 472,040 shares during the period. AQR Capital Management LLC raised its stake in Allstate by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after purchasing an additional 464,337 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Allstate in the third quarter valued at about $77,819,000. Finally, Acadian Asset Management LLC lifted its position in shares of Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after acquiring an additional 405,553 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’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 transaction 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 approximately $5,236,922.32. The trade was a 57.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $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 Price Performance

Allstate stock opened at $199.97 on Tuesday. The stock has a fifty day moving average of $190.27 and a 200-day moving average of $177.02. The stock has a market capitalization of $52.95 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.48. The Allstate Co. has a 52 week low of $132.74 and a 52 week high of $201.00. 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 announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. On average, sell-side analysts expect that The Allstate Co. will post 16.01 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio is presently 23.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ALL shares. Roth Mkm reissued a “buy” rating and issued a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Evercore ISI boosted their price target on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Jefferies Financial Group increased their target price on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler upped their target price on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Morgan Stanley lifted their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $214.19.

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.