Avanza Fonder AB Lowers Stock Holdings in The Allstate Co. (NYSE:ALL)

Avanza Fonder AB decreased its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,961 shares of the insurance provider's stock after selling 3,337 shares during the period. Avanza Fonder AB's holdings in Allstate were worth $3,895,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC raised its holdings in Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Allstate during the fourth quarter worth about $231,000. Stenger Family Office LLC purchased a new position in Allstate during the fourth quarter worth about $439,000. Golden State Wealth Management LLC purchased a new position in Allstate during the fourth quarter worth about $57,000. Finally, Quotient Wealth Partners LLC raised its holdings in Allstate by 8.4% during the fourth quarter. Quotient Wealth Partners LLC now owns 1,149 shares of the insurance provider's stock worth $222,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Analysts Set New Price Targets

ALL has been the subject of a number of research analyst reports. Raymond James reaffirmed a "strong-buy" rating and issued a $250.00 target price (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Morgan Stanley increased their target price on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Wells Fargo & Company dropped their target price on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. William Blair initiated coverage on shares of Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.

Allstate Price Performance

Shares of ALL stock traded up $4.26 during trading hours on Thursday, hitting $200.44. The company's stock had a trading volume of 1,088,921 shares, compared to its average volume of 1,616,159. The business has a fifty day moving average of $199.90 and a 200-day moving average of $197.08. The stock has a market cap of $53.08 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.01 and a beta of 0.35. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $213.18. 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 released its 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). The firm 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 firm's revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $5.13 earnings per share. As a group, equities research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 annualized dividend and a yield of 2.00%. Allstate's payout ratio is currently 27.32%.

Allstate announced that its board has approved a stock buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

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.