UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Holdings in The Allstate Co. (NYSE:ALL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in The Allstate Co. (NYSE:ALL) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,896,270 shares of the insurance provider’s stock after selling 175,114 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Allstate were worth $359,628,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in Allstate during the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Allstate during the 3rd quarter valued at about $29,000. Versant Capital Management Inc lifted its stake in shares of Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares during the period. Family Firm Inc. purchased a new position in shares of Allstate in the second quarter worth approximately $38,000. Finally, MCF Advisors LLC grew its position in Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. The Goldman Sachs Group increased their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. UBS Group raised their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Piper Sandler boosted their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays raised their price objective on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price objective on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $217.19.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 36,367 shares of the firm’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 value 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 $5,236,922.32. This trade represents a 57.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Allstate Price Performance

Shares of Allstate stock opened at $208.20 on Friday. 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 Allstate Co. has a 12 month low of $134.17 and a 12 month high of $209.88. The stock has a 50 day moving average of $192.69 and a 200 day moving average of $178.77. The firm has a market cap of $55.13 billion, a PE ratio of 13.48, a PEG ratio of 1.80 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. On average, research analysts expect that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Announces Dividend

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

About Allstate

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.