The Allstate Corporation $ALL Shares Sold by KBC Group NV

Key Points

• KBC Group NV reduced its Allstate stake by 13.4% in the first quarter, selling 41,779 shares and leaving it with 270,954 shares valued at about $56.2 million.
• Allstate posted stronger-than-expected quarterly results, reporting $10.65 EPS versus the $7.31 estimate and revenue of $16.94 billion, while analysts now expect 30.4 EPS for the current year.
• The company is paying a quarterly dividend of $1.08 per share, equal to an annualized $4.32 yield of 1.7%, with the ex-dividend date set for August 31.

KBC Group NV lowered its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 13.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,954 shares of the insurance provider's stock after selling 41,779 shares during the quarter. KBC Group NV owned approximately 0.11% of Allstate worth $56,179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Coldstream Capital Management Inc. lifted its stake in Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock worth $1,625,000 after purchasing an additional 50 shares in the last quarter. Compound Planning Inc. lifted its stake in shares of Allstate by 1.6% in the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock valued at $669,000 after purchasing an additional 50 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in Allstate by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock worth $1,210,000 after buying an additional 52 shares during the period. Root Financial Partners LLC boosted its position in shares of Allstate by 4.7% during the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider's stock worth $243,000 after purchasing an additional 53 shares during the period. Finally, Montag A & Associates Inc. boosted its position in shares of Allstate by 10.2% during the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider's stock worth $125,000 after buying an additional 55 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of research reports. HSBC cut shares of Allstate from a "buy" rating to a "hold" rating and lifted their price objective for the company from $244.00 to $264.00 in a report on Monday, July 6th. Evercore set a $240.00 target price on Allstate in a research report on Friday, July 10th. UBS Group cut Allstate from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $255.00 to $261.00 in a research note on Wednesday, July 15th. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a report on Monday. Finally, Keefe, Bruyette & Woods increased their price target on shares of Allstate from $242.00 to $255.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.80.

Allstate Stock Performance

NYSE ALL opened at $253.73 on Tuesday. 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 $257.67. The company has a market capitalization of $65.32 billion, a PE ratio of 5.60, a P/E/G ratio of 0.43 and a beta of 0.16. The company has a fifty day moving average of $228.09 and a two-hundred day moving average of $214.72.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 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 business had revenue of $16.94 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the previous year, the firm earned $3.53 earnings per share. The business's revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that The Allstate Corporation will post 30.4 earnings per share for the current year.

Allstate Announces Dividend

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

Insiders Place Their Bets

In other Allstate news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction that occurred on 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 owned 82,227 shares of the company's stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 over the last quarter. Company insiders own 1.55% of the company's stock.

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.

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