NewEdge Wealth LLC Sells 4,483 Shares of The Allstate Corporation $ALL

NewEdge Wealth LLC cut its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 55.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,620 shares of the insurance provider's stock after selling 4,483 shares during the quarter. NewEdge Wealth LLC's holdings in Allstate were worth $751,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Allstate in the 4th quarter worth $531,294,000. GQG Partners LLC lifted its holdings in shares of Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider's stock valued at $1,142,449,000 after acquiring an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider's stock valued at $1,042,321,000 after acquiring an additional 1,131,172 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in 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 in the last quarter. Finally, Woodline Partners LP purchased a new position in Allstate in the third quarter worth about $148,641,000. Institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ALL shares. Raymond James Financial raised their price objective on Allstate from $260.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Monday, July 6th. Evercore set a $240.00 price target on Allstate in a report on Friday, July 10th. Zacks Research downgraded Allstate from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, July 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $242.00 to $255.00 and gave the company a "market perform" rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.80.

Insider Activity

In related news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares of the company's stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by company insiders.

Allstate Trading Up 0.5%

ALL opened at $261.37 on Tuesday. 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 stock's 50 day moving average price is $231.96 and its 200-day moving average price is $216.45. The Allstate Corporation has a one year low of $188.08 and a one year high of $262.24. The stock has a market cap of $67.28 billion, a price-to-earnings ratio of 5.77, a P/E/G ratio of 0.45 and a beta of 0.16.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the company earned $3.53 EPS. Allstate's quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that The Allstate Corporation will post 30.51 EPS for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate's dividend payout ratio (DPR) is 9.53%.

About Allstate

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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