King Luther Capital Management Corp Sells 8,948 Shares of The Allstate Co. (NYSE:ALL)

King Luther Capital Management Corp trimmed its stake in The Allstate Co. (NYSE:ALL) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,320 shares of the insurance provider’s stock after selling 8,948 shares during the quarter. King Luther Capital Management Corp owned 0.06% of Allstate worth $29,646,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in Allstate during the third quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new position in shares of Allstate in the third quarter worth about $29,000. Versant Capital Management Inc boosted its position in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. bought a new position in Allstate during the second quarter valued at $38,000. Finally, MCF Advisors LLC grew its stake in shares of Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ALL. Keefe, Bruyette & Woods increased their price target on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler raised their price target on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, TD Cowen lifted their price objective on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.19.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate 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 completion of the sale, the insider now 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 legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Allstate Trading Up 0.4 %

Shares of NYSE ALL opened at $197.29 on Thursday. The Allstate Co. has a twelve month low of $134.17 and a twelve month high of $201.00. The business has a fifty day simple moving average of $190.76 and a two-hundred day simple moving average of $177.36. The firm has a market cap of $52.24 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.76 and a beta of 0.48. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the business posted $0.81 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. Analysts expect that The Allstate Co. will post 16.01 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

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.