The Allstate Co. (NYSE:ALL) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in shares of The Allstate Co. (NYSE:ALL) by 5.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,423 shares of the insurance provider’s stock after selling 3,648 shares during the quarter. ProShare Advisors LLC’s holdings in Allstate were worth $10,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ALL. Norges Bank acquired a new position in Allstate in the 4th quarter worth $212,771,000. Palestra Capital Management LLC acquired a new position in Allstate in the 4th quarter worth $83,561,000. Balyasny Asset Management L.P. acquired a new position in Allstate in the 4th quarter worth $81,571,000. Artemis Investment Management LLP acquired a new position in Allstate in the 1st quarter worth $95,764,000. Finally, Mizuho Markets Americas LLC acquired a new position in Allstate in the 4th quarter worth $52,042,000. Institutional investors and hedge funds own 76.47% 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 upgraded shares of Allstate from a “market perform” rating to an “outperform” rating and upped their target price for the company from $190.00 to $191.00 in a research note on Thursday. The Goldman Sachs Group upped their target price 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. JPMorgan Chase & Co. upped their target price on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Piper Sandler upped 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. Finally, Wells Fargo & Company upped their target price on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.82.

Allstate Stock Up 1.7 %

ALL stock opened at $170.72 on Thursday. The Allstate Co. has a 12 month low of $102.10 and a 12 month high of $177.37. The firm has a market cap of $45.06 billion, a PE ratio of 37.69, a P/E/G ratio of 1.92 and a beta of 0.48. The firm has a 50 day simple moving average of $163.57 and a 200 day simple moving average of $162.21. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.30) EPS. Equities research analysts forecast that The Allstate Co. will post 12.5 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.16%. Allstate’s dividend payout ratio is presently 81.24%.

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.