The Allstate Co. (NYSE:ALL) Shares Sold by Legacy Private Trust Co.

Legacy Private Trust Co. trimmed its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 41.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,990 shares of the insurance provider's stock after selling 2,087 shares during the period. Legacy Private Trust Co.'s holdings in Allstate were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of Allstate by 3.2% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 2,321 shares of the insurance provider's stock worth $448,000 after buying an additional 72 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Allstate in the 4th quarter worth $231,000. Perigon Wealth Management LLC grew its stake in shares of Allstate by 2.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock worth $571,000 after buying an additional 62 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Allstate in the 4th quarter worth $60,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Evercore ISI raised their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Stock Down 0.6%

Shares of Allstate stock traded down $1.23 on Tuesday, reaching $211.41. The stock had a trading volume of 1,263,463 shares, compared to its average volume of 1,795,496. The company has a 50 day moving average price of $199.54 and a 200 day moving average price of $196.87. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $213.18. The stock has a market capitalization of $55.98 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $5.13 earnings per share. As a group, equities research analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate announced that its board has initiated a share buyback program on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, June 9th. Allstate's payout ratio is presently 27.32%.

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.