MAI Capital Management Has $1.54 Million Position in The Allstate Co. (NYSE:ALL)

MAI Capital Management cut its holdings in shares of The Allstate Co. (NYSE:ALL) by 22.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,101 shares of the insurance provider’s stock after selling 2,286 shares during the quarter. MAI Capital Management’s holdings in Allstate were worth $1,536,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Allstate during the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC bought a new stake in Allstate in the 3rd quarter valued at $29,000. Versant Capital Management Inc boosted its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Family Firm Inc. bought a new stake in Allstate in the 2nd quarter valued at $38,000. Finally, MCF Advisors LLC boosted its stake in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALL has been the subject of several recent research reports. Morgan Stanley boosted their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Evercore ISI boosted their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Roth Mkm restated a “buy” rating and issued a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company upped their target price on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $214.19.

Allstate Price Performance

Shares of ALL stock opened at $197.29 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The Allstate Co. has a twelve month low of $134.17 and a twelve month high of $201.00. The company has a market cap of $52.24 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.76 and a beta of 0.48. The business has a fifty day simple moving average of $190.76 and a 200 day simple moving average of $177.36.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping 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 business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the company earned $0.81 EPS. Allstate’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, sell-side analysts forecast that The Allstate Co. will post 16.01 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. Allstate’s payout ratio is 23.83%.

Insider Activity

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

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.