Alpha Cubed Investments LLC Reduces Stock Position in The Allstate Co. (NYSE:ALL)

Alpha Cubed Investments LLC cut its stake in shares of The Allstate Co. (NYSE:ALL) by 42.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,784 shares of the insurance provider’s stock after selling 1,343 shares during the period. Alpha Cubed Investments LLC’s holdings in Allstate were worth $338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC bought a new position in Allstate in the first quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the 1st quarter worth $26,000. Versant Capital Management Inc raised its holdings in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares during the period. Family Firm Inc. purchased a new position in Allstate during the second quarter valued at $38,000. Finally, MCF Advisors LLC grew its holdings in Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares during the period. 76.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Allstate

In other news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction that occurred on Monday, August 19th. The stock was 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Allstate news, EVP Robert Toohey sold 16,682 shares of Allstate 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 directly owns 4,873 shares of the company’s stock, valued at $877,968.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock worth $43,082,657 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALL. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Raymond James increased their price objective on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. BMO Capital Markets lifted their target price on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group increased their price target on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. 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 given a strong buy rating to the company. According to MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $195.12.

Allstate Stock Up 0.9 %

NYSE ALL opened at $182.87 on Wednesday. The stock has a 50 day moving average price of $183.42 and a 200-day moving average price of $172.59. The Allstate Co. has a one year low of $112.42 and a one year high of $193.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $48.26 billion, a P/E ratio of 40.37, a P/E/G ratio of 1.81 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter in the prior year, the firm earned ($4.42) earnings per share. Allstate’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts predict that The Allstate Co. will post 15.2 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th were paid a dividend of $0.92 per share. The ex-dividend date was Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 2.01%. Allstate’s payout ratio is currently 81.24%.

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.