The Allstate Co. (NYSE:ALL) Shares Sold by AMG National Trust Bank

AMG National Trust Bank cut its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 58.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,293 shares of the insurance provider's stock after selling 20,303 shares during the quarter. AMG National Trust Bank's holdings in Allstate were worth $2,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its holdings in Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider's stock valued at $199,642,000 after acquiring an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider's stock worth $569,114,000 after purchasing an additional 472,040 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider's stock worth $114,955,000 after purchasing an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in Allstate in the third quarter valued at $77,819,000. Finally, Acadian Asset Management LLC raised its stake in Allstate by 3,839.0% in the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider's stock valued at $66,417,000 after buying an additional 405,553 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Insider Buying and Selling

In other news, CEO Thomas J. Wilson sold 90,000 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares of the company's stock, valued at $15,880,915.68. This represents a 50.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company's stock, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALL. Wells Fargo & Company increased their price objective on Allstate from $175.00 to $186.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. StockNews.com cut shares of Allstate from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 21st. Jefferies Financial Group upped their target price on shares of Allstate from $231.00 to $267.00 and gave the company a "buy" rating in a report on Friday, November 8th. Morgan Stanley lifted their price target on shares of Allstate from $220.00 to $228.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Finally, UBS Group upped their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus target price of $214.19.

Allstate Stock Performance

NYSE:ALL traded down $3.07 during midday trading on Tuesday, reaching $196.90. The stock had a trading volume of 592,668 shares, compared to its average volume of 1,536,206. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock has a market cap of $52.14 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.76 and a beta of 0.48. The firm has a fifty day simple moving average of $190.27 and a two-hundred day simple moving average of $177.02. The Allstate Co. has a 12-month low of $132.74 and a 12-month high of $201.00.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business's revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 earnings per share. On average, equities analysts expect that The Allstate Co. will post 16.01 EPS for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. Allstate's dividend payout ratio is currently 23.83%.

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.