ProShare Advisors LLC Sells 5,402 Shares of The Allstate Corporation $ALL

ProShare Advisors LLC decreased its position in The Allstate Corporation (NYSE:ALL) by 8.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 61,185 shares of the insurance provider’s stock after selling 5,402 shares during the period. ProShare Advisors LLC’s holdings in Allstate were worth $13,133,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Allstate during the 2nd quarter valued at $482,870,000. Swedbank AB raised its stake in shares of Allstate by 2,157.8% during the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after acquiring an additional 823,559 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Allstate by 52.7% during the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after purchasing an additional 478,598 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Allstate by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after purchasing an additional 435,145 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Allstate in the second quarter worth about $68,590,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of ALL stock opened at $200.75 on Wednesday. The business’s fifty day moving average is $203.52 and its 200 day moving average is $203.95. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $52.53 billion, a price-to-earnings ratio of 5.26, a PEG ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $216.75.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The business had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.67 earnings per share. Research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.2%. This is a positive change from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. Allstate’s dividend payout ratio is presently 10.47%.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 21,871 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 48,400 shares of company stock worth $10,313,256 in the last ninety days. 1.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on ALL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Roth Mkm upped their target price on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. TD Cowen cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $238.00 price objective on shares of Allstate in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.00.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.