CANADA LIFE ASSURANCE Co Sells 36,621 Shares of The Allstate Co. (NYSE:ALL)

CANADA LIFE ASSURANCE Co lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 221,080 shares of the insurance provider’s stock after selling 36,621 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.08% of Allstate worth $38,278,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Allstate by 33.5% in the fourth quarter. SG Americas Securities LLC now owns 15,089 shares of the insurance provider’s stock valued at $2,112,000 after purchasing an additional 3,785 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Allstate by 3.6% during the 4th quarter. HB Wealth Management LLC now owns 14,312 shares of the insurance provider’s stock worth $2,004,000 after acquiring an additional 496 shares during the period. CVA Family Office LLC purchased a new stake in Allstate in the 4th quarter worth about $70,000. Pacer Advisors Inc. raised its stake in Allstate by 4.7% in the 4th quarter. Pacer Advisors Inc. now owns 17,535 shares of the insurance provider’s stock valued at $2,455,000 after acquiring an additional 792 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its holdings in Allstate by 14.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 1,682 shares of the insurance provider’s stock valued at $235,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 45,775 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ALL shares. BMO Capital Markets raised shares of Allstate from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $190.00 to $191.00 in a research report on Thursday, July 18th. Piper Sandler increased their target price on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Evercore ISI raised their price target on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Wells Fargo & Company boosted their price objective on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Finally, StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.06.

Allstate Trading Up 1.2 %

Shares of ALL traded up $2.09 during trading hours on Thursday, hitting $174.43. The company had a trading volume of 414,502 shares, compared to its average volume of 1,545,623. The firm has a market cap of $46.04 billion, a P/E ratio of 38.03, a P/E/G ratio of 1.82 and a beta of 0.48. The Allstate Co. has a 52-week low of $104.29 and a 52-week high of $179.93. The stock’s 50 day moving average price is $164.02 and its 200 day moving average price is $163.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.30) EPS. On average, research analysts predict that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 2.11%. Allstate’s payout ratio is currently 81.24%.

About Allstate

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.