The Allstate Co. (NYSE:ALL) Stock Position Cut by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL decreased its position in The Allstate Co. (NYSE:ALL) by 3.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,389 shares of the insurance provider’s stock after selling 2,149 shares during the period. Allstate comprises 3.5% of Birmingham Capital Management Co. Inc. AL’s investment portfolio, making the stock its 5th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Allstate were worth $8,843,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rafferty Asset Management LLC grew its stake in Allstate by 5.7% in the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock valued at $12,984,000 after acquiring an additional 4,987 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in shares of Allstate in the fourth quarter valued at about $5,927,000. BDF Gestion purchased a new stake in shares of Allstate during the second quarter worth about $3,051,000. BNP Paribas Financial Markets raised its position in shares of Allstate by 55.8% during the 1st quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after purchasing an additional 78,316 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Allstate in the 2nd quarter valued at about $476,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now 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 can be accessed through the SEC website. In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 238,305 shares of company stock valued at $43,082,657. Company insiders own 1.80% of the company’s stock.

Allstate Price Performance

ALL stock opened at $189.65 on Tuesday. The Allstate Co. has a 52-week low of $109.01 and a 52-week high of $193.97. 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 stock has a market cap of $50.05 billion, a price-to-earnings ratio of 41.87, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The business has a fifty day moving average of $181.62 and a two-hundred day moving average of $171.69.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same period last year, the company earned ($4.42) EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Co. will post 15.2 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. Allstate’s dividend payout ratio is currently 81.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barclays initiated coverage on Allstate in a report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price for the company. The Goldman Sachs Group raised their price objective on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Roth Mkm reaffirmed a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. BMO Capital Markets raised their price target on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Bank of America boosted their price target on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Allstate 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.