Stratos Wealth Partners LTD. Cuts Position in The Allstate Corporation (NYSE:ALL)

Stratos Wealth Partners LTD. reduced its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 21.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,971 shares of the insurance provider's stock after selling 1,639 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Allstate were worth $1,237,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ALL. Vanguard Group Inc. lifted its holdings in shares of Allstate by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock worth $6,291,783,000 after buying an additional 389,426 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Allstate by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after acquiring an additional 218,771 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Allstate by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider's stock worth $1,236,060,000 after purchasing an additional 191,147 shares during the last quarter. Finally, GQG Partners LLC grew its holdings in shares of Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock worth $832,181,000 after purchasing an additional 1,685,694 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Trading Down 2.0%

Shares of NYSE:ALL traded down $3.85 during trading on Tuesday, hitting $192.35. The company had a trading volume of 1,950,616 shares, compared to its average volume of 1,642,554. The Allstate Corporation has a one year low of $162.27 and a one year high of $213.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $50.94 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.00 and a beta of 0.33. The company has a fifty day simple moving average of $200.91 and a two-hundred day simple moving average of $196.69.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS 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 firm had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter in the previous year, the business earned $5.13 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.08%. Allstate's dividend payout ratio is presently 27.32%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. UBS Group boosted their price target on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. William Blair started coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating on the stock. JPMorgan Chase & Co. boosted their price target on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price target on Allstate from $235.00 to $237.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Evercore ISI upped their target price on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $227.07.

Allstate Company 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.