The Allstate Corporation $ALL Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of The Allstate Corporation (NYSE:ALL) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,858,275 shares of the insurance provider’s stock after selling 35,785 shares during the period. Bank of New York Mellon Corp’s holdings in Allstate were worth $386,800,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Dorato Capital Management bought a new position in shares of Allstate during the fourth quarter worth about $27,000. Navalign LLC bought a new position in shares of Allstate during the fourth quarter worth about $27,000. Princeton Global Asset Management LLC lifted its position in shares of Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares during the last quarter. Palisade Asset Management LLC bought a new position in shares of Allstate during the third quarter worth about $31,000. Finally, South Plains Financial Inc. lifted its position in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 49 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 over the last three months. Company insiders own 1.55% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $210.73 on Friday. The firm has a market capitalization of $54.25 billion, a price-to-earnings ratio of 4.65, a price-to-earnings-growth ratio of 0.37 and a beta of 0.18. 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 one year low of $188.08 and a one year high of $227.62. The stock’s fifty day moving average is $212.98 and its 200-day moving average is $208.57.

Allstate (NYSE:ALL) last issued its quarterly 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. The company had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $3.53 earnings per share. Equities analysts anticipate that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s payout ratio is presently 9.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALL. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Raymond James Financial restated a “strong-buy” rating and set a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Barclays raised their price objective on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. raised their price objective on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.67.

Allstate 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.