White Pine Capital LLC Reduces Holdings in The Allstate Co. (NYSE:ALL)

White Pine Capital LLC reduced its holdings in shares of The Allstate Co. (NYSE:ALL) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,651 shares of the insurance provider’s stock after selling 860 shares during the period. White Pine Capital LLC’s holdings in Allstate were worth $1,351,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Gradient Investments LLC lifted its position in Allstate by 1.6% during the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after acquiring an additional 66 shares during the period. SVB Wealth LLC increased its stake in Allstate by 1.2% during the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after purchasing an additional 72 shares in the last quarter. AdvisorNet Financial Inc increased its stake in Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock valued at $754,000 after purchasing an additional 82 shares in the last quarter. Carmel Capital Partners LLC increased its stake in Allstate by 19.2% during the 3rd quarter. Carmel Capital Partners LLC now owns 516 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 83 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Allstate by 0.8% during the 3rd quarter. Ballentine Partners LLC now owns 11,320 shares of the insurance provider’s stock valued at $1,261,000 after purchasing an additional 89 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 1.3 %

Shares of ALL traded down $2.27 during mid-day trading on Friday, reaching $170.07. 1,279,038 shares of the company’s stock traded hands, compared to its average volume of 1,336,406. The stock’s 50-day moving average is $165.09 and its two-hundred day moving average is $149.14. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $176.93. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.

Allstate (NYSE:ALL) last released its earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The firm had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.36) earnings per share. On average, equities analysts anticipate that The Allstate Co. will post 13.44 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.16%. Allstate’s dividend payout ratio is currently -296.77%.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, March 25th. UBS Group raised their price objective on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, February 12th. TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. TD Cowen assumed coverage on shares of Allstate in a research note on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $173.71.

Insider Activity

In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 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.