Cresset Asset Management LLC Has $1.24 Million Position in The Allstate Co. (NYSE:ALL)

Cresset Asset Management LLC reduced its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 70.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,394 shares of the insurance provider's stock after selling 15,381 shares during the quarter. Cresset Asset Management LLC's holdings in Allstate were worth $1,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ALL. Apella Capital LLC lifted its stake in Allstate by 1.9% during the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock worth $623,000 after purchasing an additional 60 shares during the last quarter. Intrust Bank NA lifted its stake in Allstate by 0.5% during the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock worth $2,340,000 after purchasing an additional 61 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in Allstate by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock worth $571,000 after purchasing an additional 62 shares during the last quarter. Mather Group LLC. lifted its stake in Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider's stock worth $697,000 after purchasing an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock worth $270,000 after purchasing an additional 62 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALL shares. Raymond James reiterated a "strong-buy" rating and issued a $250.00 target price (up from $240.00) on shares of Allstate in a research note on Monday, May 5th. JPMorgan Chase & Co. raised their target price on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Wells Fargo & Company cut their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Barclays cut their target price on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley raised their price objective on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.20.

Allstate Price Performance

Shares of ALL traded up $3.86 during mid-day trading on Friday, hitting $209.13. 1,110,471 shares of the company traded hands, compared to its average volume of 1,617,479. The Allstate Co. has a one year low of $156.66 and a one year 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. The business has a 50-day moving average of $199.48 and a 200 day moving average of $195.69. The stock has a market capitalization of $55.38 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.01 and a beta of 0.32.

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

Allstate declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are typically 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. Stockholders of record on Monday, March 10th were paid a dividend of $1.00 per share. This is a boost from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Monday, March 10th. Allstate's dividend payout ratio is 27.32%.

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.