ProShare Advisors LLC Decreases Stake in The Allstate Corporation $ALL

ProShare Advisors LLC reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,185 shares of the insurance provider’s stock after selling 5,402 shares during the quarter. ProShare Advisors LLC’s holdings in Allstate were worth $13,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ALL. Harbor Capital Advisors Inc. lifted its stake in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 73 shares during the period. Clearstead Trust LLC raised its holdings in shares of Allstate by 3,800.0% during the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 152 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Allstate by 315.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 126 shares during the last quarter. Finally, Armstrong Advisory Group Inc. lifted its position in Allstate by 72.0% during the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 67 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ALL. Wells Fargo & Company lifted their target price on shares of Allstate from $223.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. BMO Capital Markets raised their price target on Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Allstate in a report on Tuesday. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, Roth Mkm raised their target price on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.00.

Allstate Price Performance

Shares of Allstate stock opened at $200.75 on Wednesday. The stock has a market cap of $52.53 billion, a P/E ratio of 5.26, a P/E/G ratio of 0.43 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37. The stock’s fifty day moving average is $203.52 and its 200 day moving average is $203.95. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the prior year, the business posted $7.67 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is 10.47%.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the completion of the transaction, the insider directly owned 100,646 shares in the company, valued at $21,660,025.66. This represents a 17.85% 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 have sold a total of 48,400 shares of company stock worth $10,313,256 over the last quarter. 1.70% of the stock is owned by insiders.

Allstate Profile

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.