SageView Advisory Group LLC Sells 1,301 Shares of The Allstate Corporation $ALL

Key Points

• SageView Advisory Group LLC reduced its stake in The Allstate Corporation by 20.5% in the first quarter, now holding 5,044 shares valued at approximately $1,044,000.
• Allstate's quarterly earnings surpassed estimates, reporting $5.94 EPS compared to a consensus of $3.20, with revenues of $15.05 billion, although below the expected $16.59 billion.
• The company announced a quarterly dividend of $1.00 per share, with an annualized yield of 2.0%, to be paid on October 1st.

SageView Advisory Group LLC cut its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 20.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,044 shares of the insurance provider's stock after selling 1,301 shares during the period. SageView Advisory Group LLC's holdings in Allstate were worth $1,044,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new position in shares of Allstate during the first quarter worth $28,000. Meeder Asset Management Inc. increased its holdings in shares of Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after buying an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Allstate during the first quarter worth $43,000. Mattson Financial Services LLC bought a new position in Allstate in the 4th quarter valued at approximately $44,000. Finally, 1 North Wealth Services LLC bought a new position in Allstate in the 1st quarter valued at approximately $51,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALL shares. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Barclays reiterated an "underweight" rating and set a $198.00 target price (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Raymond James Financial reiterated a "strong-buy" rating and set a $260.00 target price (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley lifted their target price on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.21.

Allstate Trading Down 0.1%

NYSE ALL opened at $199.91 on Thursday. The stock has a market capitalization of $52.68 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.80 and a beta of 0.37. The business has a 50 day simple moving average of $200.80 and a 200 day simple moving average of $200.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 EPS. Research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's dividend payout ratio (DPR) is 18.81%.

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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