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Blueshift Asset Management LLC Sells 2,628 Shares of The Allstate Corporation (NYSE:ALL)

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Key Points

  • Blueshift Asset Management LLC reduced its stake in The Allstate Corporation by 39.3%, selling 2,628 shares and owning 4,060 shares post-sale, valued at approximately $841,000.
  • Allstate reported earnings per share of $5.94 for the latest quarter, exceeding analysts' expectations, while revenue was $15.05 billion, below the consensus estimate of $16.59 billion.
  • The company will distribute a quarterly dividend of $1.00 per share, with an ex-dividend date of August 29th, representing an annual yield of 2.0%.
  • Interested in Allstate? Here are five stocks we like better.

Blueshift Asset Management LLC decreased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 39.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,060 shares of the insurance provider's stock after selling 2,628 shares during the period. Blueshift Asset Management LLC's holdings in Allstate were worth $841,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Rehmann Capital Advisory Group grew its stake in shares of Allstate by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock worth $338,000 after acquiring an additional 51 shares in the last quarter. Vantage Point Financial LLC grew its stake in shares of Allstate by 3.6% in the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock worth $310,000 after acquiring an additional 52 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in shares of Allstate by 0.7% in the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock worth $1,558,000 after acquiring an additional 54 shares in the last quarter. Achmea Investment Management B.V. grew its stake in shares of Allstate by 0.3% in the 1st quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider's stock worth $4,262,000 after acquiring an additional 57 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC grew its stake in shares of Allstate by 1.7% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 3,552 shares of the insurance provider's stock worth $735,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Price Performance

ALL traded down $3.54 on Friday, reaching $199.71. The company had a trading volume of 2,041,482 shares, compared to its average volume of 1,619,968. The business has a 50 day simple moving average of $198.44 and a 200 day simple moving average of $197.11. The company has a market cap of $52.63 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 1.06 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.40 and a current ratio of 0.43. The Allstate Corporation has a 52-week low of $168.36 and a 52-week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. As a group, sell-side analysts anticipate that The Allstate Corporation 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 Wednesday, October 1st. Investors of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's payout ratio is presently 27.32%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALL. Evercore ISI upped their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company decreased their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Raymond James Financial restated a "strong-buy" rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price target on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Finally, UBS Group increased their price target on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Allstate presently has a consensus rating of "Moderate Buy" and a consensus price target of $228.40.

View Our Latest Report on Allstate

Allstate Profile

(Free Report)

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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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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