Patton Albertson Miller Group LLC Sells 289 Shares of The Allstate Co. (NYSE:ALL)

Patton Albertson Miller Group LLC trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,685 shares of the insurance provider’s stock after selling 289 shares during the period. Patton Albertson Miller Group LLC’s holdings in Allstate were worth $7,337,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caxton Associates LP bought a new position in shares of Allstate in the 1st quarter worth $490,000. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Allstate by 28.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,945 shares of the insurance provider’s stock worth $683,000 after purchasing an additional 873 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in shares of Allstate in the 1st quarter worth $225,000. Tidal Investments LLC lifted its holdings in shares of Allstate by 35.4% in the 1st quarter. Tidal Investments LLC now owns 27,999 shares of the insurance provider’s stock worth $4,844,000 after purchasing an additional 7,324 shares in the last quarter. Finally, Alethea Capital Management LLC bought a new position in shares of Allstate in the 1st quarter worth $578,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

Shares of Allstate stock opened at $202.14 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The business’s 50 day simple moving average is $191.64 and its two-hundred day simple moving average is $178.11. The stock has a market capitalization of $53.53 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The Allstate Co. has a one year low of $134.17 and a one year high of $205.35.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Analysts forecast that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 1.82%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Insider Activity

In related news, insider John E. Dugenske sold 36,367 shares of Allstate 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 sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Piper Sandler increased their price target on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. The Goldman Sachs Group increased their price target on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group increased their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Bank of America raised their target price on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.