Oak Harbor Wealth Partners LLC Lowers Stock Holdings in The Allstate Co. (NYSE:ALL)

Oak Harbor Wealth Partners LLC lessened its stake in shares of The Allstate Co. (NYSE:ALL) by 16.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,222 shares of the insurance provider’s stock after selling 1,022 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Allstate were worth $731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after purchasing an additional 3,322,673 shares during the period. Norges Bank acquired a new stake in shares of Allstate in the 4th quarter worth approximately $212,771,000. Invesco Ltd. increased its stake in Allstate by 46.6% in the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after purchasing an additional 1,311,095 shares in the last quarter. Nordea Investment Management AB raised its holdings in Allstate by 49.5% during the third quarter. Nordea Investment Management AB now owns 1,640,174 shares of the insurance provider’s stock worth $183,388,000 after purchasing an additional 542,842 shares during the last quarter. Finally, Morgan Stanley boosted its position in Allstate by 16.9% during the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock worth $412,396,000 after purchasing an additional 536,137 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Down 1.4 %

Allstate stock traded down $2.39 during trading on Thursday, reaching $163.78. The company had a trading volume of 547,010 shares, compared to its average volume of 1,613,617. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $43.22 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 1.60 and a beta of 0.51. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37. The stock’s 50 day moving average price is $168.88 and its two-hundred day moving average price is $155.00.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02. The company had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.30) EPS. As a group, equities analysts expect that The Allstate Co. will post 14.97 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued a $0.92 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.25%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Insider Activity

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

Wall Street Analyst Weigh In

ALL has been the subject of a number of research analyst reports. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and raised their price target for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Roth Mkm increased their price target on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Evercore ISI lifted their price objective on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company increased their target price on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.59.

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.