Signet Financial Management LLC Sells 23,574 Shares of Allstate Corp (NYSE:ALL)

Signet Financial Management LLC decreased its holdings in shares of Allstate Corp (NYSE:ALL) by 39.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,929 shares of the insurance provider’s stock after selling 23,574 shares during the quarter. Signet Financial Management LLC’s holdings in Allstate were worth $3,801,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Strategy Asset Managers LLC bought a new stake in shares of Allstate during the first quarter valued at approximately $25,000. Manchester Financial Inc. purchased a new position in shares of Allstate in the 2nd quarter worth approximately $25,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Allstate during the 2nd quarter worth approximately $27,000. Mcmillion Capital Management Inc. purchased a new stake in Allstate during the second quarter valued at approximately $35,000. Finally, Webster Bank N. A. lifted its position in Allstate by 100.0% during the second quarter. Webster Bank N. A. now owns 400 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. 76.96% of the stock is currently owned by institutional investors.

Shares of Allstate stock traded up $0.22 during trading on Wednesday, hitting $105.90. 944,304 shares of the company’s stock were exchanged, compared to its average volume of 1,332,362. The stock has a market capitalization of $34.59 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.33 and a beta of 0.82. The business has a 50-day simple moving average of $103.42 and a 200-day simple moving average of $99.14. Allstate Corp has a 52-week low of $77.00 and a 52-week high of $109.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.28 and a current ratio of 0.28.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.70. The company had revenue of $8.99 billion for the quarter, compared to the consensus estimate of $8.96 billion. Allstate had a return on equity of 12.66% and a net margin of 6.52%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $2.00 EPS. On average, equities analysts anticipate that Allstate Corp will post 9.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, August 29th. Allstate’s dividend payout ratio (DPR) is 24.78%.

In other Allstate news, Vice Chairman Steven E. Shebik sold 35,014 shares of Allstate stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.64, for a total value of $3,628,850.96. Following the completion of the transaction, the insider now owns 121,476 shares of the company’s stock, valued at $12,589,772.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Glenn T. Shapiro sold 22,289 shares of Allstate stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $102.22, for a total transaction of $2,278,381.58. Following the completion of the transaction, the insider now directly owns 25,584 shares of the company’s stock, valued at approximately $2,615,196.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 126,836 shares of company stock worth $13,071,947. 1.60% of the stock is owned by corporate insiders.

ALL has been the topic of several analyst reports. Raymond James upped their price target on Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. Barclays set a $125.00 target price on Allstate and gave the stock a “buy” rating in a research note on Monday, August 12th. Goldman Sachs Group upgraded Allstate from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, May 29th. Morgan Stanley upped their target price on Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, Credit Suisse Group cut Allstate from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $100.00 to $94.00 in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $108.25.

Allstate Company Profile

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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