The Allstate Corporation $ALL Shares Sold by BTC Capital Management Inc.

Key Points

• BTC Capital Management Inc. decreased its stake in The Allstate Corporation by 4.4% in the second quarter, now holding 29,637 shares valued at approximately $5.96 million.
• Several hedge funds, including Rehmann Capital Advisory Group and Vantage Point Financial LLC, have recently increased their investments in Allstate, contributing to a total of 76.47% of the stock being owned by institutional investors.
• Allstate reported earnings of $5.94 EPS for the last quarter, exceeding expectations, although its revenue of $15.05 billion fell short of analyst projections.

BTC Capital Management Inc. reduced its position in The Allstate Corporation (NYSE:ALL - Free Report) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,637 shares of the insurance provider's stock after selling 1,348 shares during the period. BTC Capital Management Inc.'s holdings in Allstate were worth $5,956,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Rehmann Capital Advisory Group increased its stake in Allstate by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock valued at $338,000 after purchasing an additional 51 shares in the last quarter. Vantage Point Financial LLC increased its stake in Allstate by 3.6% in the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock valued at $310,000 after purchasing an additional 52 shares in the last quarter. Confluence Wealth Services Inc. increased its stake in Allstate by 0.7% in the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock valued at $1,558,000 after purchasing an additional 54 shares in the last quarter. Linscomb Wealth Inc. increased its stake in Allstate by 1.3% in the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock valued at $845,000 after purchasing an additional 54 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in Allstate by 0.7% in the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock valued at $1,740,000 after purchasing an additional 55 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup raised Allstate to a "hold" rating in a research note on Wednesday, August 13th. Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. Wolfe Research raised Allstate to a "strong-buy" rating in a research report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods raised their price target on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $231.47.

Allstate Trading Up 0.2%

Shares of ALL opened at $205.99 on Friday. The stock's 50-day moving average is $201.63 and its two-hundred day moving average is $200.50. The stock has a market cap of $54.28 billion, a PE ratio of 9.68, a P/E/G ratio of 0.82 and a beta of 0.37. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 earnings per share. Equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's payout ratio is currently 18.81%.

About Allstate

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.

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