Pekin Hardy Strauss Inc. Sells 625 Shares of The Allstate Co. (NYSE:ALL)

Pekin Hardy Strauss Inc. decreased its stake in The Allstate Co. (NYSE:ALL) by 12.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,573 shares of the insurance provider’s stock after selling 625 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Allstate were worth $867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the third quarter worth about $28,000. Catalyst Capital Advisors LLC bought a new stake in Allstate in the third quarter valued at approximately $29,000. Versant Capital Management Inc raised its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Family Firm Inc. acquired a new stake in shares of Allstate during the 2nd quarter worth about $38,000. Finally, MCF Advisors LLC lifted its position in Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 84 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALL has been the subject of a number of recent research reports. TD Cowen boosted their target price on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group raised their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Bank of America lifted their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays boosted their price objective on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets upped their price target on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.19.

Allstate Price Performance

Shares of NYSE ALL opened at $203.80 on Monday. The firm has a market capitalization of $53.97 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.81 and a beta of 0.48. The firm’s 50-day moving average price is $191.41 and its 200-day moving average price is $177.90. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The Allstate Co. has a 1-year low of $134.17 and a 1-year high of $205.35.

Allstate (NYSE:ALL) last issued its 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 company had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.81 EPS. Equities research analysts anticipate that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.81%. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.