Peapack Gladstone Financial Corp Sells 219 Shares of The Allstate Co. (NYSE:ALL)

Peapack Gladstone Financial Corp lessened its position in shares of The Allstate Co. (NYSE:ALL) by 0.6% in the fourth quarter, HoldingsChannel reports. The fund owned 35,517 shares of the insurance provider’s stock after selling 219 shares during the period. Peapack Gladstone Financial Corp’s holdings in Allstate were worth $4,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ALL. Private Wealth Management Group LLC bought a new stake in shares of Allstate in the fourth quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Allstate in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Allstate during the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC raised its position in Allstate by 152.7% during the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 168 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Allstate during the fourth quarter valued at approximately $43,000. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ALL shares. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their price objective for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. Roth Mkm boosted their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Piper Sandler upped their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. JPMorgan Chase & Co. upped their price target on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $174.59.

Allstate Trading Down 0.4 %

ALL traded down $0.72 during trading on Tuesday, reaching $163.40. 1,680,286 shares of the stock traded hands, compared to its average volume of 1,617,576. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $43.12 billion, a PE ratio of 36.08, a P/E/G ratio of 1.58 and a beta of 0.50. The stock’s 50-day moving average is $169.16 and its 200 day moving average is $157.09. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $177.37.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.30) earnings per share. Equities analysts anticipate that The Allstate Co. will post 15.15 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.25%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Allstate Company Profile

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.