SG Americas Securities LLC Trims Stock Position in The Allstate Corporation $ALL

Key Points

• SG Americas Securities LLC cut its Allstate stake by 16.1% in the first quarter, selling 26,658 shares and ending with 139,372 shares valued at about $28.9 million.
• Allstate reported strong quarterly earnings, posting $10.65 EPS and $16.94 billion in revenue, both well above analyst expectations. Revenue rose 3.0% year over year.
• The company also announced a quarterly dividend of $1.08 per share, payable July 1, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $240.33.

SG Americas Securities LLC decreased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 16.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 139,372 shares of the insurance provider's stock after selling 26,658 shares during the period. SG Americas Securities LLC owned 0.05% of Allstate worth $28,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MV Capital Management Inc. purchased a new stake in shares of Allstate in the 4th quarter worth $25,000. Dorato Capital Management bought a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Navalign LLC purchased a new stake in Allstate in the fourth quarter worth about $27,000. Princeton Global Asset Management LLC lifted its stake in Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock worth $31,000 after acquiring an additional 76 shares during the period. Finally, Palisade Asset Management LLC bought a new position in Allstate during the 3rd quarter worth about $31,000. Institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALL. Zacks Research lowered shares of Allstate from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Keefe, Bruyette & Woods lowered shares of Allstate from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $266.00 to $242.00 in a report on Monday, June 8th. Barclays boosted their price objective on shares of Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 8th. Wall Street Zen cut Allstate from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Citigroup lifted their price target on Allstate from $221.00 to $226.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $240.33.

Allstate Price Performance

NYSE ALL opened at $232.33 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The stock's fifty day moving average price is $216.53 and its 200 day moving average price is $209.49. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $232.39. The company has a market cap of $59.81 billion, a price-to-earnings ratio of 5.13, a PEG ratio of 0.40 and a beta of 0.18.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.53 EPS. As a group, equities research analysts forecast that The Allstate Corporation will post 29.55 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. Allstate's payout ratio is 9.53%.

Insider Transactions at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director directly owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock worth $4,851,560 over the last quarter. 1.55% of the stock is currently owned by insiders.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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