Richard Bernstein Advisors LLC Sells 9,053 Shares of The Allstate Corporation $ALL

Key Points

• Richard Bernstein Advisors LLC cut its stake in The Allstate Corporation by 56.2%, selling 9,053 shares and leaving 7,066 shares worth about $1.52 million at quarter-end.
• Allstate topped quarterly expectations with $14.31 EPS on $17.35 billion revenue and raised its quarterly dividend to $1.08 (annualized $4.32, ~2.1% yield), payable April 1.
• Insider Suren Gupta sold 19,593 shares at an average price of $210 on January 7 for roughly $4.11 million, trimming his holding by 16.3% to 100,646 shares.

Richard Bernstein Advisors LLC lowered its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 56.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,066 shares of the insurance provider's stock after selling 9,053 shares during the quarter. Richard Bernstein Advisors LLC's holdings in Allstate were worth $1,517,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Guerra Pan Advisors LLC increased its position in shares of Allstate by 1.5% during the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider's stock valued at $690,000 after buying an additional 49 shares during the period. Focus Financial Network Inc. grew its stake in shares of Allstate by 1.1% in the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider's stock worth $1,012,000 after acquiring an additional 52 shares during the last quarter. L2 Asset Management LLC increased its stake in Allstate by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider's stock valued at $235,000 after purchasing an additional 53 shares in the last quarter. Howard Capital Management Inc. raised its holdings in Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider's stock worth $373,000 after acquiring an additional 54 shares during the last quarter. Finally, D Orazio & Associates Inc. raised its stake in shares of Allstate by 5.2% in the second quarter. D Orazio & Associates Inc. now owns 1,115 shares of the insurance provider's stock worth $224,000 after purchasing an additional 55 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the sale, the insider owned 100,646 shares of the company's stock, valued at $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Allstate Stock Performance

Shares of ALL opened at $207.44 on Wednesday. The stock has a 50-day moving average of $204.60 and a two-hundred day moving average of $204.66. The stock has a market cap of $53.84 billion, a P/E ratio of 5.43, a P/E/G ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts' consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. During the same quarter last year, the business posted $7.67 EPS. The company's revenue was up 5.1% on a year-over-year basis. As a group, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $1.08 per share. This is a boost from Allstate's previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. Allstate's payout ratio is currently 11.31%.

Analysts Set New Price Targets

ALL has been the topic of a number of recent research reports. William Blair downgraded Allstate from an "outperform" rating to a "market perform" rating in a report on Thursday, December 18th. Citigroup lifted their price objective on shares of Allstate from $216.00 to $221.00 and gave the company a "neutral" rating in a research report on Tuesday, February 10th. TD Cowen cut Allstate from a "buy" rating to a "hold" rating in a report on Monday, January 12th. Zacks Research raised shares of Allstate from a "hold" rating to a "strong-buy" rating in a report on Friday, February 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $254.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $238.88.

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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