Patton Albertson Miller Group LLC Sells 12,081 Shares of The Allstate Corporation (NYSE:ALL)

Patton Albertson Miller Group LLC reduced its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 31.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,614 shares of the insurance provider's stock after selling 12,081 shares during the period. Patton Albertson Miller Group LLC's holdings in Allstate were worth $5,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Richard C. Young & CO. LTD. bought a new stake in shares of Allstate during the 1st quarter worth approximately $8,522,000. Commerzbank Aktiengesellschaft FI raised its position in Allstate by 4.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 7,510 shares of the insurance provider's stock valued at $1,556,000 after purchasing an additional 327 shares in the last quarter. Forum Financial Management LP raised its position in Allstate by 74.0% during the 1st quarter. Forum Financial Management LP now owns 17,753 shares of the insurance provider's stock valued at $3,676,000 after purchasing an additional 7,551 shares in the last quarter. Easterly Investment Partners LLC bought a new stake in Allstate during the 1st quarter valued at $3,219,000. Finally, Kingsview Wealth Management LLC raised its position in Allstate by 33.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 5,837 shares of the insurance provider's stock valued at $1,209,000 after purchasing an additional 1,459 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Trading Down 1.3%

Shares of NYSE:ALL opened at $193.15 on Friday. The business's 50-day moving average is $200.35 and its 200 day moving average is $196.66. The Allstate Corporation has a 1 year low of $162.27 and a 1 year high of $213.18. The firm has a market capitalization of $51.15 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.01 and a beta of 0.33. 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 analyst estimates of $16.41 billion. During the same period in the prior year, the company earned $5.13 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts predict that The Allstate Corporation 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 Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio is currently 27.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ALL shares. Wells Fargo & Company decreased their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. UBS Group lifted their target price on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Morgan Stanley lifted their target price on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $250.00 target price (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Allstate has a consensus rating of "Moderate Buy" and an average price target of $227.07.

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.

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