Citigroup Inc. Sells 30,055 Shares of The Allstate Co. (NYSE:ALL)

Citigroup Inc. trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 14.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,492 shares of the insurance provider’s stock after selling 30,055 shares during the period. Citigroup Inc. owned about 0.07% of Allstate worth $34,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caxton Associates LP purchased a new position in Allstate in the first quarter valued at approximately $490,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Allstate by 28.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,945 shares of the insurance provider’s stock valued at $683,000 after buying an additional 873 shares during the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of Allstate during the 1st quarter valued at $225,000. Tidal Investments LLC grew its stake in shares of Allstate by 35.4% during the 1st quarter. Tidal Investments LLC now owns 27,999 shares of the insurance provider’s stock worth $4,844,000 after acquiring an additional 7,324 shares during the period. Finally, Alethea Capital Management LLC purchased a new stake in Allstate in the 1st quarter worth about $578,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALL. Jefferies Financial Group increased their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lifted their price target on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, UBS Group increased their price objective on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $214.19.

Allstate Trading Down 0.8 %

ALL stock opened at $202.14 on Tuesday. The company has a market capitalization of $53.53 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The Allstate Co. has a one year low of $134.17 and a one year high of $205.35. The company’s 50 day moving average price is $191.64 and its two-hundred day moving average price is $178.11.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the company earned $0.81 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. As a group, analysts predict that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business 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 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio is presently 23.83%.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred 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 owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Allstate 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.