Concentric Capital Strategies LP Has $2.83 Million Stock Position in The Allstate Co. (NYSE:ALL)

Concentric Capital Strategies LP lessened its stake in The Allstate Co. (NYSE:ALL) by 49.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 14,919 shares of the insurance provider’s stock after selling 14,814 shares during the quarter. Concentric Capital Strategies LP’s holdings in Allstate were worth $2,829,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ALL. FSA Wealth Management LLC acquired a new stake in shares of Allstate in the third quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new position in Allstate in the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Allstate in the 3rd quarter valued at $29,000. Versant Capital Management Inc raised its position in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Allstate during the second quarter valued at $38,000. 76.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on ALL shares. Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. Jefferies Financial Group boosted their price target on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group increased their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 15th. Bank of America lifted their target price on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $217.19.

Insider Buying and Selling at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Allstate Trading Down 1.4 %

NYSE ALL opened at $204.39 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50-day moving average is $193.02 and its 200-day moving average is $179.19. The Allstate Co. has a one year low of $134.17 and a one year high of $209.88. The firm has a market cap of $54.12 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.82 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts anticipate that The Allstate Co. will post 16.26 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced 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. This represents a $3.68 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 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.