Sei Investments Co. Sells 11,034 Shares of The Allstate Co. (NYSE:ALL)

Sei Investments Co. cut its holdings in The Allstate Co. (NYSE:ALL) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 358,980 shares of the insurance provider’s stock after selling 11,034 shares during the period. Sei Investments Co.’s holdings in Allstate were worth $57,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ALL. SageView Advisory Group LLC purchased a new stake in Allstate in the 4th quarter worth approximately $456,000. Rafferty Asset Management LLC raised its position in Allstate by 5.7% during the fourth quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock valued at $12,984,000 after purchasing an additional 4,987 shares during the period. Lighthouse Investment Partners LLC bought a new stake in shares of Allstate in the 4th quarter valued at approximately $5,927,000. BDF Gestion purchased a new position in shares of Allstate in the 2nd quarter worth approximately $3,051,000. Finally, BNP Paribas Financial Markets increased its position in shares of Allstate by 55.8% during the 1st quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock valued at $37,825,000 after purchasing an additional 78,316 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction 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 $877,968.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The disclosure for this sale can be found here. Insiders sold 201,938 shares of company stock worth $36,122,740 in the last three months. 1.80% of the stock is owned by company insiders.

Allstate Price Performance

ALL stock opened at $191.00 on Monday. The Allstate Co. has a 1 year low of $109.01 and a 1 year high of $193.19. The firm has a market capitalization of $50.41 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $179.42 and a 200-day simple moving average of $170.36.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Allstate’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business earned ($4.42) earnings per share. Equities research analysts anticipate that The Allstate Co. will post 15.16 earnings per share for the current fiscal year.

Allstate Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on ALL shares. Bank of America upped their price objective on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. The Goldman Sachs Group raised their target price on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Finally, Morgan Stanley cut their target price on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

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.