KBC Group NV Sells 122,538 Shares of The Allstate Co. (NYSE:ALL)

KBC Group NV cut its stake in shares of The Allstate Co. (NYSE:ALL) by 36.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 217,296 shares of the insurance provider’s stock after selling 122,538 shares during the period. KBC Group NV’s holdings in Allstate were worth $41,210,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new position in shares of Allstate during the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC purchased a new position in Allstate during the third quarter valued at approximately $29,000. Versant Capital Management Inc boosted its position in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares during the period. Family Firm Inc. purchased a new stake in shares of Allstate in the second quarter worth $38,000. Finally, MCF Advisors LLC raised its position in shares of Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares during the period. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALL. UBS Group upped their target price on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Raymond James upped their price objective on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. Morgan Stanley boosted their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $212.56.

Insiders Place Their Bets

In other Allstate news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. This trade represents a 77.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This trade represents a 50.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,049 shares of company stock valued at $26,106,112 over the last 90 days. Insiders own 1.80% of the company’s stock.

Allstate Price Performance

Shares of Allstate stock opened at $195.85 on Friday. The stock has a market cap of $51.86 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.77 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50 day moving average price of $189.58 and a 200-day moving average price of $176.40. The Allstate Co. has a one year low of $130.77 and a one year high of $201.00.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. Allstate’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts expect that The Allstate Co. will post 16.02 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.88%. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Allstate 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.