Avity Investment Management Inc. Sells 200 Shares of The Allstate Co. (NYSE:ALL)

Avity Investment Management Inc. lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 11.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,579 shares of the insurance provider’s stock after selling 200 shares during the quarter. Avity Investment Management Inc.’s holdings in Allstate were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Allstate by 2.1% in the third quarter. Wellington Management Group LLP now owns 3,831,852 shares of the insurance provider’s stock valued at $426,907,000 after purchasing an additional 77,295 shares during the last quarter. Morgan Stanley grew its position in shares of Allstate by 16.9% in the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock valued at $412,396,000 after purchasing an additional 536,137 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Allstate by 0.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,629,870 shares of the insurance provider’s stock valued at $508,109,000 after purchasing an additional 27,766 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Allstate in the fourth quarter valued at approximately $212,771,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several recent research reports. Piper Sandler boosted their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. boosted their price target on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $194.00 price target on shares of Allstate in a research note on Friday, June 21st. Evercore ISI boosted their price target on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, HSBC upgraded Allstate from a “hold” rating to a “buy” rating and boosted their price target for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.88.

Allstate Price Performance

Shares of ALL traded down $0.35 during trading hours on Friday, reaching $159.66. The stock had a trading volume of 2,576,311 shares, compared to its average volume of 1,433,247. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $177.37. The stock has a market capitalization of $42.14 billion, a PE ratio of 35.25, a PEG ratio of 1.88 and a beta of 0.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The company’s 50-day moving average is $165.87 and its two-hundred day moving average is $159.96.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the prior year, the company earned ($1.30) EPS. Allstate’s revenue was up 10.7% compared to the same quarter last year. Research analysts expect that The Allstate Co. will post 12.15 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, May 31st. Allstate’s payout ratio is 81.24%.

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.