Foundations Investment Advisors LLC reduced its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 29.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 27,366 shares of the insurance provider's stock after selling 11,343 shares during the quarter. Foundations Investment Advisors LLC's holdings in Allstate were worth $5,667,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of 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 worth $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares during the period. Castle Hook Partners LP grew its holdings in Allstate by 1,303.3% in the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after purchasing an additional 766,058 shares during the period. Menora Mivtachim Holdings LTD. acquired a new stake in Allstate in the 4th quarter valued at $143,165,000. Finally, Mackenzie Financial Corp increased its holdings in Allstate by 261.6% in the 4th quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock worth $160,575,000 after acquiring an additional 602,533 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have issued reports on ALL. 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. William Blair assumed coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating for the company. Barclays upped their price objective on Allstate from $172.00 to $188.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley boosted their price objective on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.07.
Get Our Latest Stock Report on ALL
Allstate Stock Performance
Shares of NYSE:ALL traded down $1.61 during trading on Wednesday, reaching $192.29. The company had a trading volume of 1,891,513 shares, compared to its average volume of 1,757,981. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $50.92 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.00 and a beta of 0.33. The Allstate Corporation has a fifty-two week low of $168.36 and a fifty-two week high of $213.18. The stock's fifty day moving average price is $198.69 and its 200 day moving average price is $197.01.
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 for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. Allstate had a net margin of 6.19% and a return on equity of 24.62%. As a group, equities research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.
Allstate Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.08%. Allstate's payout ratio is 27.32%.
About Allstate
(
Free Report)
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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