Angeles Investment Advisors LLC Sells 1,578 Shares of The Allstate Co. (NYSE:ALL)

Angeles Investment Advisors LLC cut its position in shares of The Allstate Co. (NYSE:ALL) by 48.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,700 shares of the insurance provider’s stock after selling 1,578 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Allstate were worth $273,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ALL. Norges Bank bought a new position in shares of Allstate during the fourth quarter worth about $212,771,000. Palestra Capital Management LLC bought a new position in Allstate in the fourth quarter valued at approximately $83,561,000. Balyasny Asset Management L.P. bought a new position in Allstate in the fourth quarter valued at approximately $81,571,000. Artemis Investment Management LLP bought a new position in Allstate in the first quarter valued at approximately $95,764,000. Finally, Acadian Asset Management LLC grew its stake in Allstate by 3,839.0% in the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after purchasing an additional 405,553 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. TD Cowen raised their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley reduced their target price on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group boosted their target price on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Finally, Bank of America increased their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Insider Transactions at Allstate

In other news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the transaction, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the transaction, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,938 shares of company stock valued at $36,122,740. 1.80% of the stock is currently owned by insiders.

Allstate Trading Up 1.2 %

Shares of Allstate stock opened at $190.56 on Tuesday. The company has a market capitalization of $50.29 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 1.74 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 12-month low of $108.16 and a 12-month high of $191.33. The firm’s 50-day moving average price is $177.05 and its two-hundred day moving average price is $169.39.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($4.42) earnings per share. On average, analysts forecast that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Allstate Company Profile

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.