Pathstone Holdings LLC Sells 752 Shares of The Allstate Co. (NYSE:ALL)

Pathstone Holdings LLC reduced its holdings in shares of The Allstate Co. (NYSE:ALL) by 1.5% during the third quarter, Holdings Channel reports. The fund owned 50,010 shares of the insurance provider’s stock after selling 752 shares during the period. Pathstone Holdings LLC’s holdings in Allstate were worth $9,490,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. SPC Financial Inc. grew its holdings in shares of Allstate by 3.6% during the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Allstate by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after buying an additional 54 shares during the last quarter. Abacus Planning Group Inc. increased its holdings in shares of Allstate by 2.4% in the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after buying an additional 56 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of Allstate by 1.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after acquiring an additional 59 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. grew its position in Allstate by 15.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 60 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Up 2.9 %

NYSE ALL opened at $203.11 on Friday. The stock has a 50 day moving average price of $191.10 and a 200-day moving average price of $177.54. The Allstate Co. has a one year low of $134.17 and a one year high of $203.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $53.78 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.75 and a beta of 0.48.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts predict that The Allstate Co. will post 16.01 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.81%. Allstate’s payout ratio is 23.83%.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. The Goldman Sachs Group boosted their price objective on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America upped their target price on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Barclays raised their price target on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler upped their target price on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $214.19.

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.