Sheets Smith Wealth Management Has $520,000 Stock Holdings in The Allstate Corporation (NYSE:ALL)

Sheets Smith Wealth Management reduced its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 36.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,512 shares of the insurance provider's stock after selling 1,429 shares during the quarter. Sheets Smith Wealth Management's holdings in Allstate were worth $520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate during the 4th quarter worth about $231,000. Stenger Family Office LLC bought a new stake in shares of Allstate during the 4th quarter worth about $439,000. Sigma Planning Corp grew its stake in Allstate by 5.1% in the 4th quarter. Sigma Planning Corp now owns 4,131 shares of the insurance provider's stock valued at $797,000 after buying an additional 200 shares during the last quarter. Finally, Howard Capital Management Inc. raised its holdings in Allstate by 5.2% in the 4th quarter. Howard Capital Management Inc. now owns 1,711 shares of the insurance provider's stock valued at $330,000 after acquiring an additional 85 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ALL shares. BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 target price (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Finally, William Blair initiated coverage on shares of Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.

Allstate Price Performance

NYSE ALL traded up $3.39 on Thursday, hitting $194.33. 1,611,614 shares of the company's stock were exchanged, compared to its average volume of 1,621,126. The stock has a 50-day moving average of $200.84 and a 200-day moving average of $196.50. The stock has a market cap of $51.46 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.02 and a beta of 0.35. The Allstate Corporation has a 52 week low of $157.48 and a 52 week high of $213.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.62% and a net margin of 6.19%. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the prior year, the company earned $5.13 earnings per share. Allstate's quarterly revenue was up 7.8% compared to the same quarter last year. Analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Allstate announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Allstate Profile

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.