Kingsview Wealth Management LLC Sells 12,473 Shares of The Allstate Corporation $ALL

Kingsview Wealth Management LLC lowered its holdings in shares of The Allstate Corporation (NYSE:ALL) by 75.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,055 shares of the insurance provider’s stock after selling 12,473 shares during the period. Kingsview Wealth Management LLC’s holdings in Allstate were worth $870,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC increased its holdings in shares of Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after buying an additional 73 shares during the period. Clearstead Trust LLC boosted its holdings in Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares during the period. Armstrong Advisory Group Inc. grew its position in Allstate by 72.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 67 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Allstate in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares of the company’s stock, valued at $21,135,660. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Allstate Stock Up 0.4%

NYSE:ALL opened at $212.56 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The firm’s 50-day moving average price is $204.65 and its 200-day moving average price is $204.73. The company has a market capitalization of $55.17 billion, a PE ratio of 5.57, a P/E/G ratio of 0.44 and a beta of 0.23. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $216.75.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The company had revenue of $17.35 billion during 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%. Allstate’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the company posted $7.67 EPS. On average, equities analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is currently 11.31%.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of analyst reports. Roth Mkm increased their price objective on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Raymond James Financial restated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a research report on Tuesday. Mizuho increased their target price on shares of Allstate from $255.00 to $281.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Wall Street Zen cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Morgan Stanley restated an “equal weight” rating and set a $215.00 price target (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $238.88.

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.