Kingsview Wealth Management LLC Lowers Holdings in The Allstate Corporation $ALL

Kingsview Wealth Management LLC trimmed its position in shares of The Allstate Corporation (NYSE:ALL) by 75.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,055 shares of the insurance provider’s stock after selling 12,473 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Allstate were worth $870,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Allstate by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after buying an additional 435,145 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Allstate by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock valued at $1,345,961,000 after acquiring an additional 79,366 shares in the last quarter. Franklin Resources Inc. raised its holdings in Allstate by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock worth $940,140,000 after acquiring an additional 112,858 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Allstate by 3.3% during the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock valued at $562,388,000 after purchasing an additional 88,620 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Allstate by 7.0% in the 2nd quarter. Boston Partners now owns 2,655,585 shares of the insurance provider’s stock worth $535,078,000 after purchasing an additional 172,931 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

ALL stock opened at $212.56 on Friday. The firm has a market capitalization of $55.17 billion, a P/E ratio of 5.57, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $204.65 and a two-hundred day simple moving average of $204.73.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $7.67 earnings per share. Analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio is presently 11.31%.

Insider Buying and Selling

In related news, insider Suren Gupta sold 19,593 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. This represents a 16.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ALL shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research note on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Allstate in a research report on Thursday, February 5th. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Finally, Mizuho increased their target price on Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $238.88.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.