Neumann Capital Management LLC decreased its stake in Allstate Corp (NYSE:ALL) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,780 shares of the insurance provider’s stock after selling 1,400 shares during the quarter. Allstate makes up 1.3% of Neumann Capital Management LLC’s holdings, making the stock its 23rd biggest position. Neumann Capital Management LLC’s holdings in Allstate were worth $2,113,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in ALL. Orrstown Financial Services Inc. boosted its position in Allstate by 1.1% during the second quarter. Orrstown Financial Services Inc. now owns 10,417 shares of the insurance provider’s stock worth $1,059,000 after acquiring an additional 116 shares during the last quarter. Federated Investors Inc. PA boosted its position in Allstate by 10.0% during the first quarter. Federated Investors Inc. PA now owns 1,143,114 shares of the insurance provider’s stock worth $107,659,000 after acquiring an additional 103,920 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in Allstate by 3.8% during the first quarter. Wetherby Asset Management Inc. now owns 12,330 shares of the insurance provider’s stock worth $1,162,000 after acquiring an additional 446 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in Allstate by 65.4% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 170,647 shares of the insurance provider’s stock worth $16,072,000 after purchasing an additional 67,490 shares during the period. Finally, Advisor Partners LLC raised its stake in Allstate by 31.1% during the first quarter. Advisor Partners LLC now owns 16,876 shares of the insurance provider’s stock worth $1,589,000 after purchasing an additional 4,001 shares during the period. Institutional investors and hedge funds own 77.52% of the company’s stock.
Shares of Allstate stock traded down $2.41 on Monday, reaching $102.10. The company had a trading volume of 70,181 shares, compared to its average volume of 1,367,372. The business has a 50 day simple moving average of $102.77. The stock has a market cap of $34.40 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.39 and a beta of 0.82. Allstate Corp has a 52-week low of $77.00 and a 52-week high of $109.13. The company has a current ratio of 0.28, a quick ratio of 0.29 and a debt-to-equity ratio of 0.29.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, August 29th. Allstate’s payout ratio is currently 24.78%.
In related news, Director Judith A. Sprieser sold 2,225 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $102.63, for a total transaction of $228,351.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Susan L. Lees sold 30,189 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $102.26, for a total transaction of $3,087,127.14. Following the sale, the executive vice president now directly owns 62,854 shares in the company, valued at $6,427,450.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,703 shares of company stock worth $5,593,860. 1.60% of the stock is owned by insiders.
A number of equities analysts have commented on the stock. Goldman Sachs Group raised shares of Allstate from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, May 29th. Barclays lifted their target price on shares of Allstate from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, July 1st. Morgan Stanley lifted their target price on shares of Allstate from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Raymond James lifted their target price on shares of Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Finally, Credit Suisse Group downgraded shares of Allstate from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $100.00 to $94.00 in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $106.92.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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