Pinnacle Financial Partners Inc Lowers Stock Holdings in The Allstate Co. (NYSE:ALL)

Pinnacle Financial Partners Inc trimmed its position in shares of The Allstate Co. (NYSE:ALLFree Report) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,307 shares of the insurance provider’s stock after selling 99 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Allstate were worth $2,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Gradient Investments LLC boosted its stake in shares of Allstate by 1.6% in the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after buying an additional 66 shares during the period. Apollon Wealth Management LLC raised its position in shares of Allstate by 2.5% during the 4th quarter. Apollon Wealth Management LLC now owns 3,214 shares of the insurance provider’s stock worth $436,000 after acquiring an additional 78 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after acquiring an additional 82 shares in the last quarter. Carmel Capital Partners LLC raised its position in shares of Allstate by 19.2% during the 3rd quarter. Carmel Capital Partners LLC now owns 516 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 83 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in shares of Allstate by 0.8% during the 3rd quarter. Ballentine Partners LLC now owns 11,320 shares of the insurance provider’s stock worth $1,261,000 after acquiring an additional 89 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, 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. 1.70% of the stock is currently owned by insiders.

Allstate Stock Down 0.0 %

Shares of NYSE:ALL opened at $172.54 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $173.77. The stock’s fifty day simple moving average is $160.59 and its 200-day simple moving average is $141.95. The company has a market capitalization of $45.39 billion, a P/E ratio of -139.15, a P/E/G ratio of 0.45 and a beta of 0.52.

Allstate (NYSE:ALLGet Free Report) last released its earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating the consensus estimate of $3.87 by $1.95. The firm had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.36) earnings per share. As a group, equities research analysts forecast that The Allstate Co. will post 13.25 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.92 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s dividend payout ratio is presently -296.77%.

Analyst Ratings Changes

Several research analysts have commented on the company. BMO Capital Markets lifted their price target on Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a research report on Friday, January 19th. Jefferies Financial Group raised Allstate from a “hold” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. Piper Sandler lifted their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on Allstate from $164.00 to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods lifted their price target on Allstate from $171.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.69.

Read Our Latest Report on ALL

Allstate Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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