Allen Mooney & Barnes Investment Advisors LLC Sells 459 Shares of The Allstate Co. (NYSE:ALL)

Allen Mooney & Barnes Investment Advisors LLC cut its holdings in The Allstate Co. (NYSE:ALL) by 20.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,740 shares of the insurance provider’s stock after selling 459 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Allstate were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Syon Capital LLC grew its position in shares of Allstate by 5.4% in the fourth quarter. Syon Capital LLC now owns 2,033 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 105 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Allstate during the fourth quarter valued at about $273,000. SageView Advisory Group LLC bought a new stake in shares of Allstate during the fourth quarter valued at about $456,000. ICA Group Wealth Management LLC purchased a new stake in shares of Allstate in the fourth quarter worth about $152,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Allstate in the fourth quarter valued at approximately $72,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $190.66 on Tuesday. The company has a market capitalization of $50.32 billion, a P/E ratio of 42.09, a PEG ratio of 1.74 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $119.61 and a fifty-two week high of $193.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average price of $184.70 and a two-hundred day moving average price of $173.19.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.42) EPS. Analysts expect that The Allstate Co. will post 15.19 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, August 30th. Allstate’s payout ratio is 81.24%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ALL shares. JPMorgan Chase & Co. increased their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Raymond James increased their price objective on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. The Goldman Sachs Group boosted their target price on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays started coverage on Allstate in a report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price target on the stock. Finally, Piper Sandler boosted their price objective on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.24.

Insider Activity at Allstate

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock worth $43,082,657 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

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.