Ballentine Partners LLC Decreases Position in The Allstate Corporation $ALL

Key Points

• Ballentine Partners LLC reduced its position in The Allstate Corporation by 12.3% during the second quarter, owning 14,640 shares worth approximately $2.9 million after selling off 2,052 shares.
• The Allstate Corporation reported earnings of $5.94 per share for the last quarter, significantly exceeding analysts' expectations of $3.20, with a total revenue of $15.05 billion.
• Allstate announced a quarterly dividend of $1.00 per share, representing an annual yield of 1.9%, with the payment scheduled for October 1st.

Ballentine Partners LLC trimmed its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 12.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,640 shares of the insurance provider's stock after selling 2,052 shares during the quarter. Ballentine Partners LLC's holdings in Allstate were worth $2,947,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ALL. Arlington Trust Co LLC boosted its position in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of Allstate in the first quarter worth $28,000. Meeder Asset Management Inc. raised its holdings in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after acquiring an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Allstate in the first quarter worth $43,000. Finally, Mattson Financial Services LLC acquired a new position in shares of Allstate in the fourth quarter worth $44,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

ALL stock opened at $209.30 on Thursday. The stock has a 50-day moving average price of $202.41 and a two-hundred day moving average price of $200.67. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a market cap of $55.15 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's payout ratio is 18.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ALL shares. BMO Capital Markets boosted their price target on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Cantor Fitzgerald raised Allstate to a "hold" rating in a report on Wednesday, August 13th. Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. William Blair started coverage on Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating for the company. Finally, Barclays reiterated an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $231.47.

About Allstate

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.

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