Jacobs Levy Equity Management Inc. Sells 269,213 Shares of The Allstate Co. (NYSE:ALL)

Jacobs Levy Equity Management Inc. trimmed its position in shares of The Allstate Co. (NYSE:ALL) by 27.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 700,555 shares of the insurance provider’s stock after selling 269,213 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Allstate were worth $132,860,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in shares of Allstate in the third quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate during the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new stake in Allstate in the 3rd quarter worth approximately $29,000. Versant Capital Management Inc increased its position in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the period. Finally, Family Firm Inc. acquired a new position in Allstate in the second quarter valued at about $38,000. Institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

ALL stock opened at $204.39 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company’s fifty day simple moving average is $193.02 and its 200 day simple moving average is $179.19. The firm has a market cap of $54.12 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.82 and a beta of 0.50. The Allstate Co. has a 12-month low of $134.17 and a 12-month high of $209.88.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. On average, analysts expect that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.80%. Allstate’s dividend payout ratio is presently 23.83%.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. Raymond James increased their price target on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America boosted their target price on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. UBS Group lifted their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets boosted their target price on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Insiders Place Their Bets

In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.