The Allstate Co. (NYSE:ALL) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its stake in The Allstate Co. (NYSE:ALL) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,137 shares of the insurance provider’s stock after selling 4,779 shares during the quarter. M&T Bank Corp’s holdings in Allstate were worth $13,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALL. &PARTNERS purchased a new stake in shares of Allstate during the 2nd quarter worth approximately $474,000. Retirement Systems of Alabama grew its holdings in Allstate by 0.5% in the second quarter. Retirement Systems of Alabama now owns 58,216 shares of the insurance provider’s stock valued at $9,295,000 after purchasing an additional 279 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Allstate in the second quarter valued at $38,000. Independence Bank of Kentucky raised its stake in shares of Allstate by 56.0% during the 2nd quarter. Independence Bank of Kentucky now owns 3,190 shares of the insurance provider’s stock worth $509,000 after buying an additional 1,145 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Allstate in the 2nd quarter worth about $77,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 2.0 %

Shares of NYSE ALL opened at $193.56 on Friday. The stock has a market capitalization of $51.26 billion, a PE ratio of 12.54, a P/E/G ratio of 1.70 and a beta of 0.50. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $195.72 and a 200-day moving average of $182.38. The Allstate Co. has a 52-week low of $134.17 and a 52-week high of $209.88.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. On average, analysts anticipate that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 1.90%. Allstate’s dividend payout ratio is currently 23.83%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ALL shares. TD Cowen lifted their target price on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America lifted their price objective on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price target on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler increased their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.19.

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.