Intact Investment Management Inc. Sells 4,900 Shares of The Allstate Corporation (NYSE:ALL)

Intact Investment Management Inc. cut its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 51.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,600 shares of the insurance provider's stock after selling 4,900 shares during the period. Intact Investment Management Inc.'s holdings in Allstate were worth $953,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Allstate by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock valued at $6,291,783,000 after acquiring an additional 389,426 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Allstate by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after acquiring an additional 218,771 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Allstate by 157.9% in 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 acquiring an additional 4,035,629 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Allstate by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider's stock valued at $1,236,060,000 after acquiring an additional 191,147 shares in the last quarter. Finally, GQG Partners LLC grew its holdings in shares of Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALL. Argus raised Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Raymond James Financial reiterated a "strong-buy" rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Finally, Barclays cut their price target on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.20.

Allstate Stock Down 0.1%

Shares of NYSE ALL opened at $195.47 on Monday. The Allstate Corporation has a 52 week low of $157.48 and a 52 week high of $213.18. The business has a 50-day simple moving average of $200.82 and a two-hundred day simple moving average of $196.58. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The company has a market cap of $51.76 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.02 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last issued its 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 company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the prior year, the business earned $5.13 EPS. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 annualized dividend and a yield of 2.05%. Allstate's dividend payout ratio is currently 27.32%.

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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