The Allstate Corporation $ALL Shares Sold by Seaview Investment Managers LLC

Seaview Investment Managers LLC reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,989 shares of the insurance provider’s stock after selling 9,237 shares during the quarter. Allstate makes up 3.1% of Seaview Investment Managers LLC’s investment portfolio, making the stock its 13th biggest holding. Seaview Investment Managers LLC’s holdings in Allstate were worth $8,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Avantax Advisory Services Inc. grew its holdings in shares of Allstate by 3.1% during the second quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock worth $4,745,000 after buying an additional 704 shares in the last quarter. Truist Financial Corp raised its stake in shares of Allstate by 4.7% during the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock valued at $26,501,000 after purchasing an additional 5,542 shares in the last quarter. Commonwealth Retirement Investments LLC boosted its position in shares of Allstate by 103.5% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after purchasing an additional 6,590 shares in the last quarter. Davis Capital Management acquired a new position in Allstate in the 3rd quarter worth approximately $2,767,000. Finally, First Horizon Corp acquired a new stake in shares of Allstate during the 3rd quarter valued at $11,109,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 48,400 shares of company stock valued at $10,313,256. Insiders own 1.70% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $200.75 on Wednesday. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43. The business’s 50 day simple moving average is $203.52 and its 200 day simple moving average is $203.95. The stock has a market capitalization of $52.53 billion, a PE ratio of 5.26, a PEG ratio of 0.43 and a beta of 0.23.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same period in the previous year, the company posted $7.67 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $1.08 dividend. This is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.2%. Allstate’s payout ratio is presently 10.47%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ALL shares. BMO Capital Markets boosted their price objective on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their price objective on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Allstate in a report on Tuesday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a report on Thursday, February 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $215.00 price objective (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $239.00.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.