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King Luther Capital Management Corp Sells 7,550 Shares of The Allstate Corporation (NYSE:ALL)

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Key Points

  • King Luther Capital Management Corp sold 7,550 shares of The Allstate Corporation, reducing its position by 5.6%, leaving it with 126,469 shares valued at approximately $26.19 million.
  • Analysts have given mixed ratings for Allstate, with a consensus price target of $230.00 and a predominance of buy ratings, alongside some sell and hold ratings.
  • The company announced a quarterly dividend of $1.00 per share, reflecting an annualized dividend of $4.00 and a yield of 1.9% as part of its commitment to returning value to shareholders.
  • Looking to export and analyze Allstate data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

King Luther Capital Management Corp decreased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,469 shares of the insurance provider's stock after selling 7,550 shares during the quarter. King Luther Capital Management Corp's holdings in Allstate were worth $26,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ALL. Bank of America Corp DE grew its position in Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Castle Hook Partners LP increased its stake in shares of Allstate by 1,303.3% in the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock worth $159,021,000 after acquiring an additional 766,058 shares during the last quarter. Menora Mivtachim Holdings LTD. purchased a new stake in shares of Allstate during the fourth quarter worth $143,165,000. Finally, Mackenzie Financial Corp boosted its position in Allstate by 261.6% during the fourth quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock valued at $160,575,000 after purchasing an additional 602,533 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ALL shares. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. William Blair assumed coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald raised Allstate to a "hold" rating in a research note on Wednesday. Finally, Morgan Stanley upped their target price on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and an average price target of $227.50.

View Our Latest Report on Allstate

Allstate Stock Performance

Allstate stock traded down $0.23 on Thursday, hitting $208.59. The company's stock had a trading volume of 879,185 shares, compared to its average volume of 1,747,127. 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 company has a fifty day moving average price of $198.14 and a 200-day moving average price of $198.23. The Allstate Corporation has a one year low of $176.00 and a one year high of $213.18. The firm has a market cap of $54.96 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 0.86 and a beta of 0.35.

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

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's payout ratio is currently 18.81%.

About Allstate

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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