The Allstate Co. (NYSE:ALL) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC trimmed its stake in shares of The Allstate Co. (NYSE:ALL) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,292 shares of the insurance provider’s stock after selling 1,237 shares during the period. Allstate comprises about 0.9% of Carret Asset Management LLC’s holdings, making the stock its 28th biggest holding. Carret Asset Management LLC’s holdings in Allstate were worth $7,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ALL. Vanguard Group Inc. boosted its holdings in shares of Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares during the period. Wellington Management Group LLP grew its position in Allstate by 2.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,831,852 shares of the insurance provider’s stock worth $426,907,000 after purchasing an additional 77,295 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Allstate by 16.9% in the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock valued at $412,396,000 after purchasing an additional 536,137 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Allstate by 0.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,629,870 shares of the insurance provider’s stock worth $508,109,000 after buying an additional 27,766 shares during the period. Finally, Norges Bank purchased a new position in shares of Allstate during the fourth quarter valued at $212,771,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Allstate stock traded down $0.74 on Wednesday, reaching $159.44. 684,276 shares of the stock were exchanged, compared to its average volume of 1,589,958. The stock has a market cap of $42.08 billion, a PE ratio of 35.33, a PEG ratio of 1.88 and a beta of 0.48. The firm has a fifty day moving average price of $165.27 and a two-hundred day moving average price of $160.48. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $177.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating the consensus estimate of $4.11 by $1.02. The firm had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.30) EPS. Sell-side analysts anticipate that The Allstate Co. will post 12.15 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, May 31st were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 2.31%. Allstate’s dividend payout ratio is 81.24%.

Wall Street Analysts Forecast Growth

ALL has been the subject of several research analyst reports. Evercore ISI increased their price objective on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group upped their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Piper Sandler lifted their target price on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $194.00 price target on shares of Allstate in a research note on Friday, June 21st. Finally, Wells Fargo & Company lifted their price objective on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $174.88.

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.