Smithbridge Asset Management Inc. DE Trims Stake in The Allstate Corporation $ALL

Smithbridge Asset Management Inc. DE cut its stake in The Allstate Corporation (NYSE:ALL) by 72.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,120 shares of the insurance provider’s stock after selling 2,974 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Allstate were worth $232,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ALL. Brighton Jones LLC boosted its stake in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after acquiring an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Allstate in the fourth quarter worth about $231,000. WINTON GROUP Ltd acquired a new position in Allstate during the second quarter worth $210,000. Treasurer of the State of North Carolina increased its holdings in shares of Allstate by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after buying an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC increased its stake in Allstate by 20.1% during the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock worth $7,713,000 after acquiring an additional 6,412 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $249.84 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $250.38. The firm has a 50-day simple moving average of $219.88 and a 200-day simple moving average of $211.27. The company has a market capitalization of $64.31 billion, a price-to-earnings ratio of 5.51, a price-to-earnings-growth ratio of 0.43 and a beta of 0.16.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter last year, the company earned $3.53 earnings per share. Allstate’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that The Allstate Corporation will post 29.75 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s dividend payout ratio is currently 9.53%.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. Mizuho reduced their target price on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Finally, Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

Insider Buying and Selling at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 in the last quarter. 1.55% of the stock is owned by insiders.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.