Knights of Columbus Asset Advisors LLC Sells 5,676 Shares of The Allstate Corporation $ALL

Key Points

• Knights of Columbus Asset Advisors reduced its Allstate stake by 10.3% in the fourth quarter, selling 5,676 shares and leaving it with 49,505 shares worth about $10.3 million.
• Allstate reported strong quarterly results, posting $10.65 in EPS versus the $7.31 consensus estimate and revenue of $16.94 billion, both above expectations.
• The company declared a quarterly dividend of $1.08 per share, payable July 1, and analysts currently rate the stock a Moderate Buy with an average price target of $241.67.

Knights of Columbus Asset Advisors LLC lessened its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,505 shares of the insurance provider's stock after selling 5,676 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Allstate were worth $10,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Robeco Institutional Asset Management B.V. lifted its stake in shares of Allstate by 1,766.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider's stock worth $180,911,000 after acquiring an additional 822,583 shares during the period. Woodline Partners LP acquired a new position in shares of Allstate in the third quarter worth approximately $148,641,000. AustralianSuper Pty Ltd lifted its stake in shares of Allstate by 80.6% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,220,984 shares of the insurance provider's stock worth $254,148,000 after acquiring an additional 544,874 shares during the period. LSV Asset Management lifted its stake in shares of Allstate by 542.3% in the fourth quarter. LSV Asset Management now owns 631,005 shares of the insurance provider's stock worth $131,344,000 after acquiring an additional 532,770 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Allstate by 52.7% in the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider's stock worth $279,062,000 after acquiring an additional 478,598 shares during the period. Institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

ALL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Allstate from $260.00 to $266.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Citigroup upped their target price on Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. JPMorgan Chase & Co. upped their target price on Allstate from $260.00 to $263.00 and gave the stock an "overweight" rating in a research report on Thursday, February 5th. Finally, Barclays upped their target price on Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Allstate currently has an average rating of "Moderate Buy" and an average target price of $241.67.

Allstate Stock Down 1.6%

ALL stock opened at $213.05 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $54.84 billion, a price-to-earnings ratio of 4.70, a PEG ratio of 0.39 and a beta of 0.21. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62. The stock has a fifty day moving average of $212.64 and a 200-day moving average of $208.45.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.53 EPS. As a group, equities research analysts predict that The Allstate Corporation will post 29.28 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate's dividend payout ratio (DPR) is currently 9.53%.

Insider Buying and Selling at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company's stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.55% of the company's stock.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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