Hancock Whitney Corp Reduces Stake in The Allstate Co. (NYSE:ALL)

Hancock Whitney Corp reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,224 shares of the insurance provider’s stock after selling 811 shares during the quarter. Hancock Whitney Corp’s holdings in Allstate were worth $14,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. increased its position in shares of Allstate by 250.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,121 shares of the insurance provider’s stock valued at $782,000 after purchasing an additional 2,945 shares during the last quarter. Independent Advisor Alliance boosted its stake in Allstate by 227.4% during the third quarter. Independent Advisor Alliance now owns 20,498 shares of the insurance provider’s stock worth $3,888,000 after buying an additional 14,237 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in Allstate by 66.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 4,572 shares of the insurance provider’s stock worth $867,000 after buying an additional 1,831 shares during the period. Daiwa Securities Group Inc. increased its position in Allstate by 52.1% during the third quarter. Daiwa Securities Group Inc. now owns 55,249 shares of the insurance provider’s stock valued at $10,478,000 after acquiring an additional 18,930 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of Allstate by 6.8% in the third quarter. Summit Trail Advisors LLC now owns 19,573 shares of the insurance provider’s stock valued at $3,730,000 after acquiring an additional 1,245 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of NYSE:ALL opened at $203.80 on Monday. The firm has a 50 day moving average of $191.41 and a 200 day moving average of $177.90. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $53.97 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 52 week low of $134.17 and a 52 week high of $205.35.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping 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 in the previous year, the company posted $0.81 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, sell-side analysts predict that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio is currently 23.83%.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate 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 transaction, the insider now directly owns 27,364 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALL. TD Cowen upped their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group increased their target price on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods boosted their target price 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. Piper Sandler raised their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Raymond James lifted their price objective on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. One equities research 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 company. According to MarketBeat.com, the company presently has a consensus 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.