Parnassus Investments LLC Has $87.28 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Parnassus Investments LLC decreased its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 460,205 shares of the insurance provider's stock after selling 24,382 shares during the quarter. Parnassus Investments LLC owned approximately 0.17% of Allstate worth $87,278,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALL. Pathway Financial Advisers LLC increased 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 purchasing an additional 1,047,019 shares during the last quarter. Allspring Global Investments Holdings LLC increased 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 valued at $569,114,000 after buying an additional 472,040 shares during the last quarter. AQR Capital Management LLC raised its stake in Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider's stock valued at $114,955,000 after buying an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Allstate during the third quarter valued at approximately $77,819,000. Finally, Acadian Asset Management LLC lifted its holdings in Allstate by 3,839.0% during the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider's stock worth $66,417,000 after buying an additional 405,553 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred 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 transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares of the company's stock, valued at $15,880,915.68. This trade represents a 50.41 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Allstate Price Performance

Allstate stock traded down $3.38 during trading hours on Tuesday, hitting $196.59. 1,134,352 shares of the company traded hands, compared to its average volume of 1,538,624. The Allstate Co. has a 1-year low of $132.74 and a 1-year high of $201.00. The firm has a market cap of $52.06 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.76 and a beta of 0.48. The firm's 50-day simple moving average is $190.27 and its two-hundred day simple moving average is $177.02. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $14.57 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, analysts forecast that The Allstate Co. will post 16.01 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Evercore ISI boosted their price target on Allstate from $191.00 to $195.00 and gave the company an "in-line" rating in a report on Wednesday, October 9th. StockNews.com cut shares of Allstate from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 21st. Barclays lifted their price target on shares of Allstate from $175.00 to $187.00 and gave the company an "underweight" rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on shares of Allstate from $209.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Roth Mkm reissued a "buy" rating and issued a $200.00 price target on shares of Allstate in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $214.19.

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.