F&V Capital Management LLC Sells 1,735 Shares of The Allstate Co. (NYSE:ALL)

F&V Capital Management LLC lessened its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,229 shares of the insurance provider's stock after selling 1,735 shares during the quarter. Allstate makes up approximately 4.8% of F&V Capital Management LLC's holdings, making the stock its 4th largest holding. F&V Capital Management LLC's holdings in Allstate were worth $18,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALL. Bank of America Corp DE increased its position in Allstate by 157.9% during the 4th 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 in the last quarter. Norges Bank purchased a new stake in Allstate in the 4th quarter valued at about $344,354,000. GQG Partners LLC grew its holdings in Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after buying an additional 1,685,694 shares during the period. GAMMA Investing LLC grew its holdings in Allstate by 25,026.1% in the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after buying an additional 1,268,825 shares during the period. Finally, Castle Hook Partners LP grew its holdings in Allstate by 1,303.3% in the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after buying an additional 766,058 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Down 0.9%

Shares of Allstate stock traded down $1.71 on Friday, hitting $198.61. 1,330,201 shares of the company's stock traded hands, compared to its average volume of 1,616,726. The stock has a market cap of $52.60 billion, a P/E ratio of 11.69, a PEG ratio of 1.01 and a beta of 0.35. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The firm's 50-day moving average is $199.90 and its 200 day moving average is $197.08. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The business had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.13 earnings per share. Equities analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's dividend payout ratio is currently 27.32%.

Allstate announced that its board has initiated a stock buyback plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on ALL. JPMorgan Chase & Co. lifted their price target on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Morgan Stanley boosted their target price on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Barclays decreased their target price on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

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.