Sawyer & Company Inc decreased its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,416 shares of the insurance provider's stock after selling 1,385 shares during the period. Sawyer & Company Inc's holdings in Allstate were worth $2,571,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ALL. VSM Wealth Advisory LLC acquired a new position in Allstate during the 4th quarter worth about $25,000. Twin Tree Management LP bought a new stake in Allstate during the 4th quarter worth about $27,000. Vision Financial Markets LLC bought a new stake in Allstate during the 4th quarter worth about $29,000. Hopwood Financial Services Inc. bought a new stake in Allstate during the 4th quarter worth about $29,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Allstate during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 76.47% of the company's stock.
Allstate Price Performance
Shares of ALL opened at $195.47 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50 day simple moving average of $200.82 and a 200 day simple moving average of $196.69. The Allstate Corporation has a 52-week low of $157.48 and a 52-week high of $213.18. The firm has a market capitalization of $51.76 billion, a PE ratio of 13.35, a P/E/G ratio of 1.02 and a beta of 0.35.
Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $16.41 billion. During the same quarter in the prior year, the firm posted $5.13 earnings per share. Allstate's revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.
Allstate declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Allstate Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 2.05%. Allstate's dividend payout ratio is presently 27.32%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Barclays dropped their price objective on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Argus raised Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Finally, Morgan Stanley boosted their price objective on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.
Check Out Our Latest Report on ALL
Allstate Company Profile
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Corporation (NYSE:ALL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Allstate, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Allstate wasn't on the list.
While Allstate currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
