The Allstate Co. (NYSE:ALL) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC reduced its position in The Allstate Co. (NYSE:ALL - Free Report) by 19.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,496 shares of the insurance provider's stock after selling 1,521 shares during the quarter. Parallel Advisors LLC's holdings in Allstate were worth $1,345,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC lifted its stake in shares of Allstate by 10.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock valued at $98,065,000 after acquiring an additional 48,382 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Allstate by 56.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider's stock valued at $36,012,000 after buying an additional 67,032 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Allstate by 4.7% in the 4th quarter. CIBC Asset Management Inc now owns 40,579 shares of the insurance provider's stock worth $7,823,000 after acquiring an additional 1,828 shares during the last quarter. Keybank National Association OH raised its stake in shares of Allstate by 1.7% during the fourth quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider's stock valued at $66,489,000 after acquiring an additional 5,786 shares during the last quarter. Finally, GDS Wealth Management grew its stake in shares of Allstate by 3.8% in the fourth quarter. GDS Wealth Management now owns 89,233 shares of the insurance provider's stock worth $17,203,000 after purchasing an additional 3,271 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Down 0.6%

ALL stock traded down $1.23 during trading on Tuesday, reaching $211.41. 1,263,468 shares of the company traded hands, compared to its average volume of 1,608,232. The business has a 50 day simple moving average of $199.54 and a 200 day simple moving average of $196.87. 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 Allstate Co. has a 12 month low of $156.66 and a 12 month high of $213.04. The company has a market capitalization of $55.98 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32.

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

Allstate declared that its Board of Directors has initiated a stock 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 an indication that the company's board of directors believes its stock is undervalued.

Allstate Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALL. Wells Fargo & Company cut their price target on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Barclays decreased their price target on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. 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 report on Wednesday, May 7th. Finally, Morgan Stanley upped their target price on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.20.

About Allstate

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.