Intech Investment Management LLC Sells 44,463 Shares of The Allstate Co. (NYSE:ALL)

Intech Investment Management LLC trimmed its position in The Allstate Co. (NYSE:ALL) by 37.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,962 shares of the insurance provider’s stock after selling 44,463 shares during the quarter. Intech Investment Management LLC’s holdings in Allstate were worth $10,353,000 as of its most recent SEC filing.

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

Insider Activity at Allstate

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

Allstate Price Performance

NYSE:ALL traded up $0.84 on Friday, hitting $164.84. The company had a trading volume of 988,501 shares, compared to its average volume of 1,404,019. The stock has a market capitalization of $43.50 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 1.55 and a beta of 0.51. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $169.02 and a two-hundred day moving average of $155.48. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.30) EPS. On average, research analysts anticipate that The Allstate Co. will post 15.15 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, May 31st. Allstate’s payout ratio is 81.24%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler upped their price target on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Wells Fargo & Company increased their target price on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. UBS Group increased their target price on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Evercore ISI increased their target price on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $174.59.

About Allstate

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.