The Allstate Corporation $ALL Stock Holdings Cut by Vestor Capital LLC

Key Points

• Vestor Capital sharply reduced its Allstate position by 99.9% in the first quarter, selling 310,586 shares and retaining just 300 shares worth approximately $62,000.
• Other institutions were generally buyers, including Bank of America, which increased its holdings by 8.1%. Institutional investors collectively own 76.47% of Allstate’s stock.
• Allstate reported quarterly EPS of $10.65, well above the $7.31 consensus estimate, and revenue of $16.94 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $254.80, while the company declared a quarterly dividend of $1.08 per share.

Vestor Capital LLC cut its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 99.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 300 shares of the insurance provider's stock after selling 310,586 shares during the quarter. Vestor Capital LLC's holdings in Allstate were worth $62,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Groupe la Francaise boosted its stake in Allstate by 5.6% during the first quarter. Groupe la Francaise now owns 18,926 shares of the insurance provider's stock valued at $3,924,000 after buying an additional 1,001 shares in the last quarter. Western Wealth Management LLC acquired a new position in Allstate during the first quarter worth about $94,000. Royal Fund Management LLC raised its position in Allstate by 13.0% in the first quarter. Royal Fund Management LLC now owns 1,461 shares of the insurance provider's stock worth $303,000 after acquiring an additional 168 shares in the last quarter. Bank of America Corp DE lifted its holdings in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock valued at $1,640,748,000 after acquiring an additional 596,321 shares during the last quarter. Finally, Kentucky Retirement Systems lifted its holdings in Allstate by 126.7% in the 1st quarter. Kentucky Retirement Systems now owns 37,553 shares of the insurance provider's stock valued at $7,786,000 after acquiring an additional 20,985 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by corporate insiders.

Allstate Price Performance

NYSE ALL opened at $264.53 on Friday. The stock's 50-day moving average price is $235.94 and its two-hundred day moving average price is $218.05. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market cap of $68.10 billion, a PE ratio of 5.84, a PEG ratio of 0.45 and a beta of 0.16. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company posted $3.53 earnings per share. On average, analysts predict that The Allstate Corporation will post 30.74 EPS for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, August 31st. Allstate's dividend payout ratio is 9.53%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALL. Zacks Research cut shares of Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Roth Capital reissued a "buy" rating and set a $275.00 target price on shares of Allstate in a research note on Friday, July 17th. Mizuho raised their target price on shares of Allstate from $255.00 to $272.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. HSBC lowered shares of Allstate from a "buy" rating to a "hold" rating and lifted their price target for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Finally, Evercore set a $240.00 price target on Allstate in a report on Friday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $254.80.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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