Meyer Handelman Co. Grows Stock Holdings in The Allstate Co. (NYSE:ALL)

Meyer Handelman Co. lifted its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,521 shares of the insurance provider's stock after buying an additional 9,910 shares during the period. Allstate makes up 1.4% of Meyer Handelman Co.'s portfolio, making the stock its 20th biggest position. Meyer Handelman Co. owned about 0.07% of Allstate worth $38,830,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BTC Capital Management Inc. lifted its holdings in Allstate by 0.4% in the first quarter. BTC Capital Management Inc. now owns 30,985 shares of the insurance provider's stock valued at $6,417,000 after acquiring an additional 118 shares during the period. Silvia Mccoll Wealth Management LLC purchased a new stake in shares of Allstate during the 1st quarter valued at about $210,000. GAMMA Investing LLC lifted its stake in shares of Allstate by 25,026.1% in the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after purchasing an additional 1,268,825 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Allstate by 102.6% in the first quarter. Versant Capital Management Inc now owns 778 shares of the insurance provider's stock worth $161,000 after buying an additional 394 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings in Allstate by 5.8% during the first quarter. Central Pacific Bank Trust Division now owns 9,281 shares of the insurance provider's stock valued at $1,922,000 after buying an additional 509 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALL. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Evercore ISI boosted their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Wells Fargo & Company decreased their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, Morgan Stanley increased their price objective on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.

Allstate Price Performance

NYSE:ALL traded down $2.13 during trading hours on Wednesday, reaching $209.13. The stock had a trading volume of 420,635 shares, compared to its average volume of 1,781,799. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The stock has a market capitalization of $55.38 billion, a PE ratio of 12.31, a PEG ratio of 1.01 and a beta of 0.32. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $213.18. The company has a 50 day moving average price of $199.58 and a two-hundred day moving average price of $196.97.

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

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's dividend payout ratio is 27.32%.

Allstate announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

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.