Keybank National Association OH Sells 134,260 Shares of The Allstate Corporation (NYSE:ALL)

Keybank National Association OH reduced its position in The Allstate Corporation (NYSE:ALL - Free Report) by 38.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 210,615 shares of the insurance provider's stock after selling 134,260 shares during the period. Keybank National Association OH owned about 0.08% of Allstate worth $43,612,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of ALL. Bank of America Corp DE lifted its stake in Allstate by 157.9% in the 4th 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 purchasing an additional 4,035,629 shares during the last quarter. Norges Bank acquired a new stake in Allstate during the fourth quarter worth approximately $344,354,000. GQG Partners LLC lifted its position in Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock worth $832,181,000 after acquiring an additional 1,685,694 shares during the last quarter. GAMMA Investing LLC lifted its position 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 worth $263,785,000 after acquiring an additional 1,268,825 shares during the last quarter. Finally, Castle Hook Partners LP lifted its position 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 worth $159,021,000 after acquiring an additional 766,058 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALL has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Morgan Stanley raised their price objective on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, Barclays cut their price objective on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $225.20.

Allstate Price Performance

Shares of NYSE ALL traded up $2.03 during midday trading on Thursday, reaching $196.72. The company's stock had a trading volume of 963,005 shares, compared to its average volume of 1,633,683. 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 fifty-two week low of $157.50 and a fifty-two week high of $213.18. The business's 50 day moving average price is $201.30 and its two-hundred day moving average price is $196.58. The company has a market cap of $52.09 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.01 and a beta of 0.33.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.19% and a return on equity of 24.62%. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same quarter in the prior year, the firm earned $5.13 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $4.00 annualized dividend and a yield of 2.03%. Allstate's dividend payout ratio is currently 27.32%.

Allstate 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.