Concentric Capital Strategies LP Sells 20,832 Shares of The Allstate Corporation $ALL

Key Points

• Concentric Capital Strategies LP reduced its holdings in The Allstate Corporation by 54.0%, owning 17,781 shares valued at approximately $3.68 million after selling 20,832 shares in the 1st quarter.
• Allstate has received several upgrades from analysts, with UBS Group raising the target price from $230 to $235 and various other reports emphasizing a consensus rating of "Moderate Buy" with a target price of $231.21.
• The company recently announced a $1.00 quarterly dividend, with an annual yield of 2.0%, and plans to pay it on October 1st to shareholders on record as of August 29th.

Concentric Capital Strategies LP decreased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 54.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,781 shares of the insurance provider's stock after selling 20,832 shares during the period. Concentric Capital Strategies LP's holdings in Allstate were worth $3,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in Allstate in the first quarter valued at $28,000. Meeder Asset Management Inc. lifted its holdings in Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after buying an additional 99 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Allstate in the first quarter valued at $43,000. Mattson Financial Services LLC acquired a new position in Allstate in the fourth quarter valued at $44,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of Allstate during the first quarter valued at about $51,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Wall Street Analyst Weigh In

ALL has been the topic of several research reports. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. Morgan Stanley upped their price objective on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Jefferies Financial Group upped their price objective on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and an average price target of $231.21.

Allstate Trading Down 0.6%

NYSE:ALL traded down $1.12 during trading hours on Monday, reaching $200.41. The company's stock had a trading volume of 1,524,618 shares, compared to its average volume of 1,700,473. The firm has a market capitalization of $52.81 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.81 and a beta of 0.37. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a 50-day simple moving average of $200.72 and a 200-day simple moving average of $200.11.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS. Research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Allstate's payout ratio is presently 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.