The Allstate Co. (NYSE:ALL) Shares Sold by Perpetual Ltd

12 Oct 2024, 14:19 by Sarita Garza · The Markets Daily

Perpetual Ltd decreased its position in shares of The Allstate Co. (NYSE:ALL – Free Report) by 97.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,575 shares of the insurance provider’s stock after selling 128,619 shares during the quarter. Perpetual Ltd’s holdings in Allstate were worth $678,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wedmont Private Capital lifted its position in Allstate by 7.4% in the third quarter. Wedmont Private Capital now owns 4,481 shares of the insurance provider’s stock valued at $812,000 after buying an additional 309 shares during the last quarter. Daymark Wealth Partners LLC lifted its position in Allstate by 27.8% in the third quarter. Daymark Wealth Partners LLC now owns 1,673 shares of the insurance provider’s stock valued at $317,000 after buying an additional 364 shares during the last quarter. Peddock Capital Advisors LLC lifted its position in Allstate by 1.1% in the third quarter. Peddock Capital Advisors LLC now owns 16,261 shares of the insurance provider’s stock valued at $3,084,000 after buying an additional 183 shares during the last quarter. First PREMIER Bank lifted its position in Allstate by 217.4% in the third quarter. First PREMIER Bank now owns 584 shares of the insurance provider’s stock valued at $111,000 after buying an additional 400 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in Allstate by 6.7% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,677 shares of the insurance provider’s stock valued at $318,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of Allstate stock opened at $188.24 on Friday. The firm has a market capitalization 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 Allstate Co. has a 52 week low of $113.04 and a 52 week high of $193.97. 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 firm’s 50 day moving average is $184.04 and its two-hundred day moving average is $172.89.

Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($4.42) earnings per share. Research analysts forecast that The Allstate Co. will post 15.19 EPS for the current fiscal year.

Allstate Announces Dividend

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

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 45,775 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was 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 of the company’s stock, valued at approximately $15,942,790.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suren Gupta sold 45,775 shares of the 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 of the company’s stock, valued at $15,942,790.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 238,305 shares of company stock worth $43,082,657 over the last three months. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of a number of recent analyst reports. BMO Capital Markets upped their target price on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group increased their price target on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods increased their price target on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Roth Mkm reissued a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Finally, Evercore ISI increased their price target on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday. 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 assigned a strong buy rating to the company. According to MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average target price of $199.24.

Check Out Our Latest Stock Analysis on Allstate

Allstate Company Profile

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