EP Wealth Advisors LLC Trims Stock Position in The Allstate Corporation $ALL

Key Points

• EP Wealth Advisors LLC has reduced its stake in The Allstate Corporation by 2.1% during the first quarter, now owning approximately 310,027 shares valued at $64.2 million.
• Allstate recently reported **strong quarterly earnings** with an EPS of $5.94, significantly exceeding estimates, although revenue fell below expectations.
• The company announced a quarterly dividend of $1.00 per share, reflecting a 2.0% yield, with a payout ratio of 18.81%.

EP Wealth Advisors LLC cut its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 310,027 shares of the insurance provider's stock after selling 6,686 shares during the quarter. EP Wealth Advisors LLC owned approximately 0.12% of Allstate worth $64,197,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALL. Bank of America Corp DE increased its holdings in Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after buying an additional 4,035,629 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Allstate by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after buying an additional 2,374,684 shares during the period. Boston Partners increased its holdings in Allstate by 613.9% during the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after buying an additional 2,134,893 shares during the period. GAMMA Investing LLC increased its holdings in Allstate by 25,026.1% during the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after buying an additional 1,268,825 shares during the period. Finally, Castle Hook Partners LP increased its holdings in Allstate by 1,303.3% during the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after buying an additional 766,058 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 0.1%

NYSE:ALL opened at $203.63 on Tuesday. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. The firm has a fifty day simple moving average of $199.92 and a 200-day simple moving average of $199.69. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $53.66 billion, a P/E ratio of 9.57, a PEG ratio of 0.82 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping the consensus estimate of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts anticipate 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. Stockholders of record on Friday, August 29th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate's payout ratio is presently 18.81%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALL. Keefe, Bruyette & Woods lifted 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. Barclays reissued an "underweight" rating and set a $198.00 price objective (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. BMO Capital Markets raised their target price on shares of Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Finally, Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $230.73.

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.

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