Concord Wealth Partners Trims Position in The Allstate Co. (NYSE:ALL)

Concord Wealth Partners trimmed its position in shares of The Allstate Co. (NYSE:ALL) by 8.4% during the fourth quarter, HoldingsChannel reports. The fund owned 1,094 shares of the insurance provider’s stock after selling 100 shares during the quarter. Concord Wealth Partners’ holdings in Allstate were worth $153,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Allstate during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC grew its position in shares of Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 168 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $43,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Allstate during the third quarter valued at approximately $48,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Wells Fargo & Company increased their price target on shares of Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Piper Sandler raised their target price on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. UBS Group raised their target price on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Finally, Morgan Stanley raised their target price on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $174.18.

Allstate Price Performance

Shares of ALL stock opened at $169.18 on Friday. The firm has a market cap of $44.51 billion, a P/E ratio of 37.35, a P/E/G ratio of 0.41 and a beta of 0.51. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The Allstate Co. has a 1-year low of $100.57 and a 1-year high of $177.37. The firm has a fifty day moving average of $165.88 and a two-hundred day moving average of $150.65.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 15.14%. The company had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. During the same period last year, the firm posted ($1.30) EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Co. will post 13.83 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.18%. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Insider Activity at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

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.