Carret Asset Management LLC Reduces Stock Position in The Allstate Co. (NYSE:ALL)

Carret Asset Management LLC lessened its position in The Allstate Co. (NYSE:ALL) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,763 shares of the insurance provider’s stock after selling 529 shares during the period. Allstate accounts for 0.8% of Carret Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. Carret Asset Management LLC’s holdings in Allstate were worth $6,987,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ALL. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Allstate in the first quarter worth about $25,000. Private Wealth Management Group LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $25,000. Rise Advisors LLC purchased a new position in shares of Allstate during the first quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate during the first quarter valued at approximately $26,000. Finally, Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Suren Gupta sold 45,775 shares of the stock in a transaction 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 transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,938 shares of company stock worth $36,122,740. Insiders own 1.80% of the company’s stock.

Allstate Stock Up 0.8 %

Shares of NYSE:ALL traded up $1.51 on Monday, hitting $188.94. 1,430,500 shares of the company traded hands, compared to its average volume of 1,569,706. The stock has a 50 day simple moving average of $171.02 and a 200-day simple moving average of $167.29. 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 company has a market cap of $49.89 billion, a PE ratio of 41.71, a PEG ratio of 1.78 and a beta of 0.48. The Allstate Co. has a 52 week low of $105.57 and a 52 week high of $189.26.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($4.42) earnings per share. As a group, research analysts expect that The Allstate Co. will post 15.14 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 1.95%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Analyst Ratings Changes

A number of research analysts have issued reports on ALL shares. Bank of America boosted their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Roth Mkm reaffirmed a “buy” rating and set a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods lifted their price objective on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company decreased their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.94.

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.