Sit Investment Associates Inc. Lowers Position in Allstate Corp (ALL)
Sit Investment Associates Inc. trimmed its position in Allstate Corp (NYSE:ALL) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 158,015 shares of the insurance provider’s stock after selling 7,600 shares during the period. Sit Investment Associates Inc.’s holdings in Allstate were worth $16,546,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of ALL. Arrow Financial Corp boosted its holdings in Allstate by 100.0% during the third quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock worth $102,000 after buying an additional 553 shares during the last quarter. Sandy Spring Bank boosted its holdings in Allstate by 2.5% during the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock worth $103,000 after buying an additional 28 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in Allstate by 46.6% during the second quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock worth $113,000 after buying an additional 405 shares during the last quarter. Financial Engines Advisors L.L.C. bought a new position in Allstate during the third quarter worth about $116,000. Finally, Baker Ellis Asset Management LLC bought a new position in Allstate during the third quarter worth about $120,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.
ALL has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Allstate from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. UBS Group lifted their price objective on Allstate from $93.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Keefe, Bruyette & Woods cut Allstate from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 2nd. Citigroup cut their price objective on Allstate from $107.00 to $106.00 and set a “buy” rating on the stock in a report on Monday, October 2nd. Finally, Goldman Sachs Group started coverage on Allstate in a report on Monday, December 4th. They set a “neutral” rating and a $104.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $96.43.
In related news, EVP Susan L. Lees sold 4,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $100.49, for a total value of $401,960.00. Following the completion of the sale, the executive vice president now directly owns 24,341 shares in the company, valued at approximately $2,446,027.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Thomas J. Wilson sold 195,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $99.13, for a total value of $19,330,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 432,242 shares of company stock worth $42,827,931 over the last three months. 1.50% of the stock is owned by insiders.
Allstate Corp (NYSE ALL) opened at $100.43 on Thursday. The firm has a market capitalization of $36,040.00, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12. Allstate Corp has a 1 year low of $73.13 and a 1 year high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.
Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Allstate had a return on equity of 13.11% and a net margin of 7.32%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. sell-side analysts forecast that Allstate Corp will post 6.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Wednesday, November 29th. Allstate’s payout ratio is presently 20.56%.
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Allstate Company Profile
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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