The Allstate Co. (NYSE:ALL) Shares Sold by Benin Management CORP

Benin Management CORP decreased its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,572 shares of the insurance provider's stock after selling 1,550 shares during the period. Allstate comprises approximately 1.9% of Benin Management CORP's holdings, making the stock its 8th biggest holding. Benin Management CORP's holdings in Allstate were worth $6,745,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC bought a new position in Allstate during the 4th quarter valued at $25,000. Twin Tree Management LP bought a new position in shares of Allstate during the fourth quarter worth about $27,000. Vision Financial Markets LLC bought a new position in shares of Allstate during the fourth quarter worth about $29,000. Hopwood Financial Services Inc. acquired a new position in Allstate in the fourth quarter worth about $29,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Allstate in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Evercore ISI lifted 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. Keefe, Bruyette & Woods raised their price objective on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Morgan Stanley boosted their target price on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. William Blair began coverage on shares of Allstate in a report on Friday. They set a "sector outperform" rating on the stock. Finally, Barclays decreased their price target on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $225.20.

Allstate Stock Performance

ALL stock traded up $1.58 during trading on Friday, reaching $208.23. 648,933 shares of the company's stock were exchanged, compared to its average volume of 1,603,065. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $213.18. The firm has a market cap of $55.14 billion, a PE ratio of 12.26, a P/E/G ratio of 1.01 and a beta of 0.32. The company's fifty day moving average price is $199.58 and its 200-day moving average price is $197.09. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL - Get Free Report) last posted 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). The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.13 EPS. On average, research analysts expect that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Monday, June 9th. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Allstate announced that its Board of Directors has approved a stock buyback program on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

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.