The Allstate Corporation $ALL Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG trimmed its holdings in shares of The Allstate Corporation (NYSE:ALL) by 80.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,243 shares of the insurance provider’s stock after selling 57,724 shares during the period. J. Safra Sarasin Holding AG’s holdings in Allstate were worth $2,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. MV Capital Management Inc. purchased a new position in Allstate during the 4th quarter worth $25,000. Dorato Capital Management acquired a new stake in shares of Allstate in the 4th quarter worth approximately $27,000. Navalign LLC purchased a new position in Allstate during the 4th quarter valued at about $27,000. Evolution Wealth Management Inc. raised its holdings in shares of Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in shares of Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after buying an additional 76 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last 90 days. 1.55% of the stock is currently owned by company insiders.

Allstate Price Performance

Shares of NYSE:ALL opened at $256.43 on Tuesday. The firm has a market cap of $66.01 billion, a price-to-earnings ratio of 5.66, a P/E/G ratio of 0.44 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $257.67. The business has a fifty day simple moving average of $224.94 and a 200 day simple moving average of $213.37.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the business posted $3.53 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that The Allstate Corporation will post 29.99 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALL. Mizuho raised their price target on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Morgan Stanley upped their price target on shares of Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Sunday. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $248.26.

Allstate Company 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.