Envestnet Asset Management Inc. Lowers Stock Holdings in The Allstate Corporation (NYSE:ALL)

Envestnet Asset Management Inc. lowered its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,929 shares of the insurance provider's stock after selling 31,436 shares during the period. Envestnet Asset Management Inc. owned 0.09% of Allstate worth $51,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALL. Brighton Jones LLC grew its position in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Allstate in the fourth quarter valued at $231,000. Stenger Family Office LLC purchased a new stake in shares of Allstate in the fourth quarter valued at $439,000. Proficio Capital Partners LLC grew its position in shares of Allstate by 19.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,396 shares of the insurance provider's stock valued at $269,000 after purchasing an additional 230 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of Allstate by 8.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 8,718 shares of the insurance provider's stock valued at $1,681,000 after purchasing an additional 709 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Trading Down 0.8%

NYSE:ALL opened at $193.20 on Friday. 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 Allstate Corporation has a one year low of $162.27 and a one year high of $213.18. The business's 50-day simple moving average is $200.99 and its 200 day simple moving average is $196.67. The stock has a market cap of $51.16 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.00 and a beta of 0.33.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS 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 business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same quarter last year, the firm posted $5.13 EPS. The company's revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 9th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, June 9th. Allstate's dividend payout ratio (DPR) is 27.32%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Raymond James Financial reiterated a "strong-buy" rating and issued a $250.00 target price (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. Wells Fargo & Company reduced their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Evercore ISI lifted their target price on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Barclays lifted their target price on Allstate from $172.00 to $188.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Allstate presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.07.

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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