The Allstate Corporation $ALL Shares Sold by Harrell Investment Partners LLC

Key Points

• Harrell Investment Partners LLC reduced its holdings in The Allstate Corporation by 80.5%, now owning only 1,527 shares after selling 6,310 shares in the second quarter, worth approximately $307,000.
• Institutional investors now hold 76.47% of Allstate's stock, with notable increases in holdings from firms like Sequoia Financial Advisors and Atlas Capital Advisors during the first quarter.
• Allstate recently reported earnings of $5.94 per share for the last quarter, significantly surpassing analyst estimates of $3.20, although revenue fell short of expectations.

Harrell Investment Partners LLC reduced its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 80.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,527 shares of the insurance provider's stock after selling 6,310 shares during the quarter. Harrell Investment Partners LLC's holdings in Allstate were worth $307,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its position in shares of Allstate by 30.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock valued at $2,352,000 after purchasing an additional 2,643 shares during the period. Atlas Capital Advisors Inc. increased its position in shares of Allstate by 197.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock valued at $1,390,000 after purchasing an additional 4,454 shares during the period. Richard Bernstein Advisors LLC acquired a new position in shares of Allstate during the 1st quarter valued at $3,341,000. Dock Street Asset Management Inc. acquired a new position in shares of Allstate during the 1st quarter valued at $207,000. Finally, First Citizens Bank & Trust Co. increased its position in shares of Allstate by 5.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock valued at $11,906,000 after purchasing an additional 2,981 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALL shares. BMO Capital Markets lifted their price target on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Wells Fargo & Company set a $202.00 target price on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. UBS Group lifted their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Wolfe Research upgraded Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. Finally, Barclays restated an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $231.47.

Allstate Stock Performance

Shares of Allstate stock opened at $209.30 on Thursday. The stock has a market cap of $55.15 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37. The business has a fifty day simple moving average of $202.41 and a 200-day simple moving average of $200.67. 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 Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. On average, sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate's dividend payout ratio (DPR) is presently 18.81%.

About Allstate

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.

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