Axecap Investments LLC Reduces Position in The Allstate Co. (NYSE:ALL)

Axecap Investments LLC lessened its position in The Allstate Co. (NYSE:ALL - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,017 shares of the insurance provider's stock after selling 4,862 shares during the quarter. Allstate makes up about 2.5% of Axecap Investments LLC's holdings, making the stock its 15th biggest holding. Axecap Investments LLC's holdings in Allstate were worth $2,902,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. VSM Wealth Advisory LLC bought a new position in shares of Allstate in the fourth quarter valued at about $25,000. Twin Tree Management LP bought a new position in Allstate in the fourth quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in Allstate during the fourth quarter valued at approximately $29,000. Hopwood Financial Services Inc. bought a new position in shares of Allstate in the 4th quarter valued at about $29,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Allstate during the 4th quarter worth about $29,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 0.5%

NYSE:ALL traded down $0.93 during mid-day trading on Friday, reaching $199.40. 742,953 shares of the company's stock traded hands, compared to its average volume of 1,612,824. The firm has a market capitalization of $52.80 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.01 and a beta of 0.35. The company has a 50 day moving average price of $199.90 and a 200-day moving average price of $197.08. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $213.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last posted 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). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The company had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same period in the prior year, the business posted $5.13 earnings per share. The company's revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be given a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.01%. Allstate's dividend payout ratio is currently 27.32%.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ALL shares. 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. Raymond James reaffirmed a "strong-buy" rating and issued a $250.00 price objective (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Wells Fargo & Company decreased their price objective on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods raised 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.20.

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.