SVB Wealth LLC Sells 208 Shares of The Allstate Co. (NYSE:ALL)

SVB Wealth LLC decreased its holdings in The Allstate Co. (NYSE:ALL) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,961 shares of the insurance provider’s stock after selling 208 shares during the quarter. SVB Wealth LLC’s holdings in Allstate were worth $1,031,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ALL. Norges Bank acquired a new stake in Allstate during the 4th quarter worth about $212,771,000. Palestra Capital Management LLC acquired a new stake in Allstate during the 4th quarter worth about $83,561,000. Balyasny Asset Management L.P. acquired a new stake in Allstate during the 4th quarter worth about $81,571,000. Artemis Investment Management LLP acquired a new stake in Allstate during the 1st quarter worth about $95,764,000. Finally, Mizuho Markets Americas LLC acquired a new stake in Allstate during the 4th quarter worth about $52,042,000. Institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL traded up $0.12 during mid-day trading on Monday, reaching $169.29. 1,471,567 shares of the stock traded hands, compared to its average volume of 1,571,191. The firm has a fifty day moving average price of $163.94 and a 200 day moving average price of $163.55. The company has a market cap of $44.68 billion, a price-to-earnings ratio of 37.31, a price-to-earnings-growth ratio of 1.77 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The Allstate Co. has a 1 year low of $104.29 and a 1 year high of $179.93.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. During the same period in the previous year, the firm posted ($1.30) EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that The Allstate Co. will post 13.64 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ALL shares. Wells Fargo & Company increased their price objective on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. Piper Sandler raised their price target on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $194.00 target price on shares of Allstate in a research report on Friday, July 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $178.06.

Insider Transactions at Allstate

In other news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction on 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 of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

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.