The Allstate Corporation $ALL Stock Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its stake in shares of The Allstate Corporation (NYSE:ALL) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,121 shares of the insurance provider’s stock after selling 1,882 shares during the period. King Luther Capital Management Corp’s holdings in Allstate were worth $21,991,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Allstate in the second quarter worth about $5,439,448,000. Bank of America Corp DE lifted its position in shares of Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after purchasing an additional 596,321 shares in the last quarter. GQG Partners LLC acquired a new position in shares of Allstate during the second quarter worth approximately $1,245,710,000. Deutsche Bank AG acquired a new position in shares of Allstate during the second quarter worth approximately $1,008,648,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Allstate by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock valued at $581,515,000 after purchasing an additional 154,259 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ALL shares. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Weiss Ratings upgraded shares of Allstate from a “buy (a)” rating to a “buy (a+)” rating in a research report on Thursday, October 29th. Piper Sandler reduced their price objective on Allstate from $300.00 to $294.00 and set an “overweight” rating on the stock in a report on Monday. HSBC lowered Allstate from a “buy” rating to a “hold” rating and set a $271.00 price objective on the stock. in a research report on Friday, November 6th. Finally, Mizuho lowered their target price on Allstate from $300.00 to $295.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Hold” and an average target price of $273.48.

Allstate Stock Up 1.7%

Shares of NYSE ALL opened at $266.68 on Friday. The firm has a market capitalization of $65.99 billion, a PE ratio of 6.04, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 1 year low of $191.13 and a 1 year high of $281.11. The firm’s 50-day moving average is $246.06 and its 200-day moving average is $231.16.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $2.87. The business had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $15.87 billion. Allstate had a net margin of 16.57% and a return on equity of 38.37%. Allstate’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $11.17 earnings per share. Equities analysts expect that The Allstate Corporation will post 37.33 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Monday, November 30th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 30th. Allstate’s payout ratio is currently 9.78%.

Allstate Profile

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.