The Allstate Corporation $ALL Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its holdings in The Allstate Corporation by 51.8% during the first quarter, resulting in a position worth approximately $6.36 million.
• Analysts' target prices for Allstate's stock vary, with estimates ranging from $198.00 to $260.00, indicating a general consensus rating of "Moderate Buy."
• Allstate announced a quarterly dividend of $1.00 per share, reflecting an annualized dividend yield of 2.0% and a payout ratio of 18.81%.

Intech Investment Management LLC trimmed its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 51.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,735 shares of the insurance provider's stock after selling 33,006 shares during the quarter. Intech Investment Management LLC's holdings in Allstate were worth $6,364,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new stake in Allstate in the 1st quarter worth $28,000. Meeder Asset Management Inc. grew its holdings in shares of Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after buying an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Allstate during the first quarter worth $43,000. Mattson Financial Services LLC purchased a new stake in shares of Allstate during the fourth quarter worth $44,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Allstate during the first quarter worth $51,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 1.0%

Shares of ALL stock traded down $2.07 on Friday, hitting $200.40. 1,136,388 shares of the stock traded hands, compared to its average volume of 1,206,671. The firm's 50-day moving average price is $200.99 and its two-hundred day moving average price is $200.45. 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 stock has a market capitalization of $52.81 billion, a PE ratio of 9.42, a PEG ratio of 0.80 and a beta of 0.37. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $214.76.

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 the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. As a group, analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Allstate's dividend payout ratio is presently 18.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ALL shares. Citigroup raised shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. William Blair started coverage on shares of Allstate in a report on Friday, June 6th. They set a "sector outperform" rating for the company. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $231.21.

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.