Brookstone Capital Management Cuts Holdings in The Allstate Co. (NYSE:ALL)

Brookstone Capital Management reduced its position in The Allstate Co. (NYSE:ALL) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,439 shares of the insurance provider’s stock after selling 293 shares during the period. Brookstone Capital Management’s holdings in Allstate were worth $1,221,000 at the end of the most recent quarter.

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

Insider Activity

In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $15,942,790.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Allstate 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 sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 238,305 shares of company stock worth $43,082,657. 1.80% of the stock is currently owned by company insiders.

Allstate Stock Performance

Shares of Allstate stock opened at $188.24 on Friday. The Allstate Co. has a 12 month low of $113.04 and a 12 month high of $193.97. The stock’s fifty day moving average price is $184.04 and its 200-day moving average price is $172.89. The firm has a market cap of $49.70 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.74 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 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 business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter last year, the firm posted ($4.42) EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities research analysts expect that The Allstate Co. will post 15.19 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th were issued a dividend of $0.92 per share. The ex-dividend date was Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. Allstate’s dividend payout ratio is currently 33.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. The Goldman Sachs Group increased their target price on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. Finally, Bank of America dropped their target price on Allstate from $226.00 to $216.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average price target of $199.24.

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.