First Horizon Advisors Inc. Sells 638 Shares of The Allstate Co. (NYSE:ALL)

First Horizon Advisors Inc. lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 0.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 72,108 shares of the insurance provider’s stock after selling 638 shares during the quarter. First Horizon Advisors Inc.’s holdings in Allstate were worth $13,675,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SPC Financial Inc. boosted its stake in Allstate by 3.6% during the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after buying an additional 54 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of Allstate by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after acquiring an additional 54 shares during the last quarter. Abacus Planning Group Inc. increased its position in shares of Allstate by 2.4% in the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after purchasing an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in Allstate by 1.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after buying an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. raised its position in shares of Allstate by 15.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after buying an additional 60 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALL. The Goldman Sachs Group increased their target price on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets lifted their price objective on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Bank of America increased their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. 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 MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $214.19.

Allstate Price Performance

Shares of ALL opened at $196.59 on Wednesday. The company has a market capitalization of $52.06 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.76 and a beta of 0.48. 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 $132.74 and a twelve month high of $201.00. The firm has a 50 day moving average of $190.50 and a 200 day moving average of $177.22.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts anticipate that The Allstate Co. will post 16.01 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of 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 document filed with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

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.