Birmingham Capital Management Co. Inc. AL Trims Stock Holdings in The Allstate Co. (NYSE:ALL)

Birmingham Capital Management Co. Inc. AL cut its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,374 shares of the insurance provider's stock after selling 1,515 shares during the quarter. Allstate makes up approximately 3.7% of Birmingham Capital Management Co. Inc. AL's portfolio, making the stock its 4th largest holding. Birmingham Capital Management Co. Inc. AL's holdings in Allstate were worth $10,097,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALL. Janney Montgomery Scott LLC lifted its holdings in Allstate by 6.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 54,276 shares of the insurance provider's stock valued at $10,464,000 after purchasing an additional 3,244 shares during the last quarter. Mutual Advisors LLC lifted its holdings in Allstate by 24.9% during the fourth quarter. Mutual Advisors LLC now owns 2,331 shares of the insurance provider's stock valued at $445,000 after purchasing an additional 465 shares during the last quarter. Brighton Jones LLC lifted its holdings in Allstate by 60.2% during 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. RFG Advisory LLC purchased a new stake in Allstate during the fourth quarter valued at about $218,000. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Allstate by 2.1% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,842 shares of the insurance provider's stock worth $741,000 after buying an additional 80 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

ALL traded up $2.89 on Friday, reaching $209.65. The company had a trading volume of 2,491,873 shares, compared to its average volume of 1,612,656. The business has a 50 day simple moving average of $199.47 and a 200 day simple moving average of $196.76. The company has a market cap of $55.52 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.01 and a beta of 0.32. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The company had revenue of $14.30 billion during 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 company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.13 earnings per share. As a group, sell-side analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

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

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Monday, June 9th. Allstate's payout ratio is currently 27.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods increased their price target on shares of Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company lowered their price target on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.