Annex Advisory Services LLC Lowers Holdings in The Allstate Co. (NYSE:ALL)

Annex Advisory Services LLC reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 19.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,460 shares of the insurance provider’s stock after selling 1,077 shares during the period. Annex Advisory Services LLC’s holdings in Allstate were worth $712,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ALL. Norges Bank purchased a new stake in shares of Allstate during the 4th quarter worth $212,771,000. Palestra Capital Management LLC acquired a new position in shares of Allstate during the 4th quarter worth $83,561,000. Balyasny Asset Management L.P. acquired a new position in shares of Allstate during the 4th quarter worth $81,571,000. Artemis Investment Management LLP acquired a new position in shares of Allstate during the 1st quarter worth $95,764,000. Finally, Mizuho Markets Americas LLC acquired a new position in shares of Allstate during the 4th quarter worth $52,042,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Allstate Stock Up 0.3 %

Shares of ALL traded up $0.51 during trading on Friday, reaching $171.03. The company’s stock had a trading volume of 1,000,121 shares, compared to its average volume of 1,569,766. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The company has a market cap of $45.14 billion, a price-to-earnings ratio of 37.75, a P/E/G ratio of 1.86 and a beta of 0.48. The Allstate Co. has a twelve month low of $104.29 and a twelve month high of $180.87. The company has a fifty day moving average of $165.19 and a two-hundred day moving average of $164.75.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($4.42) EPS. On average, sell-side analysts predict that The Allstate Co. will post 13.64 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Wall Street Analyst Weigh In

ALL has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. BMO Capital Markets upped their price objective on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Morgan Stanley dropped their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $194.00 target price on shares of Allstate in a report on Friday, July 5th. Finally, The Goldman Sachs Group boosted their target price on Allstate from $197.00 to $199.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $184.06.

Allstate Company 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.