Charles Schwab Investment Management Inc. Cuts Stock Holdings in The Allstate Co. (NYSE:ALL)

Charles Schwab Investment Management Inc. reduced its position in shares of The Allstate Co. (NYSE:ALL) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,814,709 shares of the insurance provider’s stock after selling 13,328 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Allstate were worth $344,160,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Allstate in the third quarter valued at about $29,000. Versant Capital Management Inc lifted its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. purchased a new position in Allstate during the second quarter worth approximately $38,000. Finally, MCF Advisors LLC boosted 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 acquiring an additional 84 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $203.80 on Friday. The Allstate Co. has a 12 month low of $134.17 and a 12 month high of $205.35. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market cap of $53.97 billion, a P/E ratio of 13.20, a PEG ratio of 1.75 and a beta of 0.48. The firm has a fifty day moving average price of $191.41 and a 200 day moving average price of $177.77.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. Sell-side analysts predict that The Allstate Co. will post 16.01 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.81%. Allstate’s payout ratio is currently 23.83%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALL. JPMorgan Chase & Co. increased their price objective on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group boosted their price target on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Raymond James raised their price target on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. Finally, Barclays boosted their price objective on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

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.