KBC Group NV Reduces Stock Position in The Allstate Co. (NYSE:ALL)

KBC Group NV trimmed its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 36.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,296 shares of the insurance provider's stock after selling 122,538 shares during the period. KBC Group NV owned about 0.08% of Allstate worth $41,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Allstate by 18.7% in the third 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 period. Raymond James & Associates lifted its holdings in shares of Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider's stock worth $287,851,000 after acquiring an additional 145,986 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Allstate by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider's stock valued at $229,545,000 after buying an additional 47,038 shares during the last quarter. Pathway Financial Advisers LLC grew its position in shares of Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider's stock worth $199,642,000 after buying an additional 1,047,019 shares during the period. Finally, Hsbc Holdings PLC grew its position in Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider's stock valued at $160,948,000 after purchasing an additional 31,789 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ALL. BMO Capital Markets increased their target price on shares of Allstate from $205.00 to $214.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. Piper Sandler boosted their price target on Allstate from $188.00 to $196.00 and gave the stock an "overweight" rating in a research note on Friday, August 16th. Morgan Stanley increased their target price on Allstate from $220.00 to $228.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. TD Cowen lifted their price target on Allstate from $193.00 to $224.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on Allstate from $222.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $214.19.

Insider Transactions at Allstate

In other news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares in the company, valued at approximately $877,968.41. This represents a 77.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, 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. Insiders sold 143,049 shares of company stock worth $26,106,112 over the last quarter. 1.80% of the stock is currently owned by insiders.

Allstate Price Performance

ALL stock traded up $1.10 during midday trading on Friday, reaching $196.88. The company had a trading volume of 1,394,742 shares, compared to its average volume of 1,542,382. The company has a market capitalization of $52.13 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50 day moving average price of $189.79 and a 200-day moving average price of $176.53. The Allstate Co. has a 1-year low of $131.65 and a 1-year high of $201.00.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the firm posted $0.81 EPS. The business's revenue was up 14.7% compared to the same quarter last year. Equities research analysts expect that The Allstate Co. will post 16.07 earnings per share for the current year.

Allstate Dividend Announcement

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 paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, November 29th. 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.