Lecap Asset Management Ltd. Sells 9,008 Shares of The Allstate Corporation (NYSE:ALL)

Lecap Asset Management Ltd. cut its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 54.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,422 shares of the insurance provider's stock after selling 9,008 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Allstate were worth $1,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacific Sage Partners LLC purchased a new position in shares of Allstate during the first quarter valued at about $210,000. Cornerstone Wealth Group LLC purchased a new position in shares of Allstate during the first quarter valued at about $3,139,000. Invesco LLC grew its position in shares of Allstate by 10.0% during the first quarter. Invesco LLC now owns 16,073 shares of the insurance provider's stock valued at $3,328,000 after purchasing an additional 1,458 shares in the last quarter. Spirepoint Private Client LLC grew its position in shares of Allstate by 26.9% during the first quarter. Spirepoint Private Client LLC now owns 2,542 shares of the insurance provider's stock valued at $526,000 after purchasing an additional 539 shares in the last quarter. Finally, FORM Wealth Advisors LLC purchased a new position in shares of Allstate during the first quarter valued at about $247,000. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 0.8%

Shares of NYSE:ALL traded up $1.52 during trading hours on Friday, hitting $195.67. 3,249,521 shares of the company's stock traded hands, compared to its average volume of 1,627,135. The Allstate Corporation has a 1 year low of $157.50 and a 1 year high of $213.18. The business has a fifty day moving average price of $200.85 and a 200-day moving average price of $196.52. The firm has a market capitalization of $51.82 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.02 and a beta of 0.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (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 business had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter last year, the firm earned $5.13 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, June 9th. Allstate's dividend payout ratio is presently 27.32%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods lifted their price target on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Barclays dropped their price target on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Finally, William Blair began coverage on Allstate in a research report on Friday, June 6th. They issued a "sector outperform" rating for the company. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $225.20.

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.