Natixis Advisors LLC Cuts Stock Holdings in The Allstate Corporation $ALL

Key Points

• Natixis Advisors LLC reduced its Allstate stake by 9.4% in the fourth quarter, selling 24,897 shares and leaving it with 239,492 shares valued at about $49.9 million.
• Allstate reported strong quarterly results, with EPS of $10.65 beating estimates by $3.34 and revenue of $16.94 billion topping forecasts; revenue also rose 3% year over year.
• The company announced a quarterly dividend of $1.08 per share, or $4.32 annualized, yielding about 2.1%, while insiders sold shares and analysts currently rate the stock a Moderate Buy.

Natixis Advisors LLC lowered its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,492 shares of the insurance provider's stock after selling 24,897 shares during the quarter. Natixis Advisors LLC owned 0.09% of Allstate worth $49,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Heritage Trust Co purchased a new stake in shares of Allstate during the fourth quarter worth $831,000. Beto Financial Group LLC purchased a new stake in shares of Allstate during the fourth quarter worth $223,000. Allen Investment Management LLC purchased a new stake in shares of Allstate during the fourth quarter worth $712,000. GW Henssler & Associates Ltd. increased its position in shares of Allstate by 1.4% during the fourth quarter. GW Henssler & Associates Ltd. now owns 119,448 shares of the insurance provider's stock worth $24,863,000 after acquiring an additional 1,642 shares during the period. Finally, COFG Advisors LLC acquired a new position in shares of Allstate during the fourth quarter worth $323,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

NYSE ALL opened at $209.43 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62. The company has a market capitalization of $53.91 billion, a PE ratio of 4.62, a P/E/G ratio of 0.38 and a beta of 0.18. The company has a fifty day moving average of $212.91 and a two-hundred day moving average of $208.59.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the firm posted $3.53 earnings per share. Allstate's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts expect that The Allstate Corporation will post 29.43 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, June 1st. Allstate's dividend payout ratio is currently 9.53%.

Insider Buying and Selling at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the company's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 22,353 shares of company stock worth $4,851,560 over the last 90 days. Corporate insiders own 1.55% of the company's stock.

Analyst Ratings Changes

ALL has been the subject of a number of analyst reports. Zacks Research downgraded shares of Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Piper Sandler reiterated an "overweight" rating on shares of Allstate in a research note on Thursday, May 28th. Citigroup boosted their target price on shares of Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Raymond James Financial reiterated a "strong-buy" rating and set a $260.00 target price on shares of Allstate in a research note on Tuesday, March 3rd. Finally, Weiss Ratings upgraded shares of Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, March 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $241.67.

Allstate Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.