AlTi Global Inc. Sells 2,481 Shares of The Allstate Corporation $ALL

Key Points

• AlTi Global Inc. has reduced its holdings in The Allstate Corporation by 69.6%, selling 2,481 shares and now owning 1,085 shares valued at $225,000.
• Research analysts have revised their price targets for Allstate, with Raymond James raising its target to $260.00 and Wells Fargo setting a target at $202.00, contributing to a consensus price target of $231.21.
• Allstate recently announced a quarterly dividend of $1.00 per share, representing a 1.9% yield, with the pay date scheduled for October 1st.

AlTi Global Inc. cut its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 69.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,085 shares of the insurance provider's stock after selling 2,481 shares during the quarter. AlTi Global Inc.'s holdings in Allstate were worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ancora Advisors LLC lifted its holdings in Allstate by 0.7% in the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock worth $1,740,000 after buying an additional 55 shares during the period. Aprio Wealth Management LLC raised its holdings in shares of Allstate by 26.0% during the first quarter. Aprio Wealth Management LLC now owns 2,166 shares of the insurance provider's stock valued at $449,000 after acquiring an additional 447 shares in the last quarter. 1 North Wealth Services LLC purchased a new stake in Allstate in the first quarter worth $51,000. Federation des caisses Desjardins du Quebec boosted its holdings in Allstate by 53.4% in the first quarter. Federation des caisses Desjardins du Quebec now owns 14,429 shares of the insurance provider's stock valued at $2,988,000 after acquiring an additional 5,022 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its position in Allstate by 185.7% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 4,086 shares of the insurance provider's stock valued at $846,000 after purchasing an additional 2,656 shares during the period. Institutional investors own 76.47% of the company's stock.

Allstate Stock Down 3.3%

Shares of NYSE ALL traded down $6.94 during trading on Friday, reaching $201.39. The company had a trading volume of 1,404,997 shares, compared to its average volume of 1,122,228. The business's 50-day moving average is $200.72 and its 200 day moving average is $200.03. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a market cap of $53.07 billion, a PE ratio of 9.47, a P/E/G ratio of 0.81 and a beta of 0.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 EPS. As a group, equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's dividend payout ratio (DPR) is 18.81%.

Analyst Ratings Changes

Several research firms have recently commented on ALL. BMO Capital Markets raised their target price on shares of Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. William Blair started coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. UBS Group lifted their price target on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley upped their price target on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $231.21.

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.