Cobblestone Capital Advisors LLC NY Sells 1,285 Shares of The Allstate Corporation (NYSE:ALL)

Key Points

• Cobblestone Capital Advisors LLC NY reduced its stake in The Allstate Corporation by 41.3% in Q1, selling 1,285 shares for a total of 1,828 shares worth $379,000.
• The Allstate Corporation's stock has received a consensus rating of Moderate Buy with price targets ranging from $198.00 to $260.00 from various analysts.
• Allstate announced a quarterly dividend of $1.00 per share, with an annual yield of 1.9%, payable on October 1st to shareholders of record as of August 29th.

Cobblestone Capital Advisors LLC NY trimmed its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 41.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,828 shares of the insurance provider's stock after selling 1,285 shares during the period. Cobblestone Capital Advisors LLC NY's holdings in Allstate were worth $379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hughes Financial Services LLC bought a new stake in Allstate in the 1st quarter valued at $28,000. Kapitalo Investimentos Ltda bought a new stake in Allstate in the 4th quarter valued at $29,000. Meeder Asset Management Inc. increased its holdings in shares of Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after buying an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Allstate in the 1st quarter worth about $43,000. Finally, Mattson Financial Services LLC bought a new stake in shares of Allstate in the 4th quarter worth about $44,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research reports. Raymond James Financial restated a "strong-buy" rating and issued a $260.00 target price (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Evercore ISI boosted their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Barclays restated an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $230.00.

Allstate Price Performance

Allstate stock opened at $206.71 on Monday. The stock has a market cap of $54.47 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 0.86 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a 1 year low of $169.95 and a 1 year high of $213.18. The firm has a 50-day moving average of $198.31 and a two-hundred day moving average of $197.95.

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

Allstate Announces Dividend

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

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.

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