Peapack Gladstone Financial Corp Sells 1,533 Shares of The Allstate Co. (NYSE:ALL)

Peapack Gladstone Financial Corp lowered its position in shares of The Allstate Co. (NYSE:ALL) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,287 shares of the insurance provider’s stock after selling 1,533 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Allstate were worth $6,123,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC increased its position in shares of Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after acquiring an additional 1,047,019 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Allstate by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after purchasing an additional 464,337 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of Allstate in the 3rd quarter worth about $77,819,000. Finally, Acadian Asset Management LLC grew its position in Allstate by 3,839.0% during the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after buying an additional 405,553 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. TD Cowen lifted their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. UBS Group upped their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Evercore ISI upped their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.19.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Allstate Trading Up 2.1 %

Shares of ALL opened at $196.25 on Friday. The business’s 50-day moving average price is $194.95 and its 200-day moving average price is $181.30. 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 Allstate Co. has a twelve month low of $134.17 and a twelve month high of $209.88. The stock has a market cap of $51.97 billion, a PE ratio of 12.71, a P/E/G ratio of 1.70 and a beta of 0.50.

Allstate (NYSE:ALL) last posted its 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 for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. Allstate’s revenue was up 14.7% on a year-over-year basis. On average, equities analysts forecast that The Allstate Co. will post 16.26 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.88%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

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.