Cerity Partners LLC Sells 3,773 Shares of The Allstate Corporation (NYSE:ALL)

Cerity Partners LLC reduced its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,964 shares of the insurance provider's stock after selling 3,773 shares during the quarter. Cerity Partners LLC's holdings in Allstate were worth $9,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group raised its position in Allstate by 3.2% during the first 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 raised its position in Allstate by 3.6% during the first 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. raised its position in Allstate by 0.7% during the first 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. raised its position in Allstate by 0.3% during the first 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 raised its position in Allstate by 1.7% during the first 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. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 1.6%

ALL stock opened at $196.35 on Tuesday. The Allstate Corporation has a 52 week low of $162.27 and a 52 week high of $213.18. The company's 50-day simple moving average is $200.91 and its 200 day simple moving average is $196.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $52.00 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.00 and a beta of 0.33.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same period in the prior year, the company earned $5.13 EPS. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.04%. Allstate's dividend payout ratio (DPR) is currently 27.32%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALL. William Blair started coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating on the stock. 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 report on Tuesday, May 6th. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $235.00 to $237.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, UBS Group upped their price objective on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.07.

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.

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Corporation (NYSE:ALL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.