Cresset Asset Management LLC Reduces Position in The Allstate Co. (NYSE:ALL)

Cresset Asset Management LLC trimmed its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 70.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,394 shares of the insurance provider's stock after selling 15,381 shares during the period. Cresset Asset Management LLC's holdings in Allstate were worth $1,238,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crestline Management LP increased its holdings in shares of Allstate by 205.6% during the 4th quarter. Crestline Management LP now owns 11,697 shares of the insurance provider's stock worth $2,255,000 after acquiring an additional 7,870 shares during the last quarter. Castle Hook Partners LP raised its holdings in Allstate by 1,303.3% in the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after acquiring an additional 766,058 shares during the period. Cetera Investment Advisers increased its stake in shares of Allstate by 0.9% during the fourth quarter. Cetera Investment Advisers now owns 59,216 shares of the insurance provider's stock worth $11,416,000 after purchasing an additional 535 shares during the period. Cercano Management LLC boosted its stake in Allstate by 19.4% in the 4th quarter. Cercano Management LLC now owns 1,335 shares of the insurance provider's stock valued at $257,000 after purchasing an additional 217 shares during the period. Finally, BOKF NA grew its holdings in Allstate by 75.6% in the 4th quarter. BOKF NA now owns 37,274 shares of the insurance provider's stock valued at $6,746,000 after buying an additional 16,048 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

ALL stock traded up $4.51 during trading on Thursday, reaching $205.10. The stock had a trading volume of 1,125,987 shares, compared to its average volume of 1,614,683. The stock's 50 day moving average is $199.22 and its two-hundred day moving average is $195.38. The firm has a market cap of $54.31 billion, a PE ratio of 12.07, a PEG ratio of 1.01 and a beta of 0.32. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $5.13 earnings per share. As a group, equities analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.00 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.95%. This is a boost from Allstate's previous quarterly dividend of $0.92. Allstate's payout ratio is presently 27.32%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALL. Evercore ISI boosted their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Raymond James restated a "strong-buy" rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. Finally, Morgan Stanley lifted their price target on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $225.20.

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.