Navellier & Associates Inc. Trims Stake in The Allstate Corporation (NYSE:ALL)

Navellier & Associates Inc. decreased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,190 shares of the insurance provider's stock after selling 1,941 shares during the quarter. Allstate accounts for 0.9% of Navellier & Associates Inc.'s portfolio, making the stock its 23rd biggest holding. Navellier & Associates Inc.'s holdings in Allstate were worth $6,646,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Allstate by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after acquiring an additional 218,771 shares during the period. Bank of America Corp DE raised its position in shares of Allstate by 157.9% in 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 acquiring an additional 4,035,629 shares in the last quarter. Geode Capital Management LLC increased its position in Allstate by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider's stock valued at $1,236,060,000 after buying an additional 191,147 shares in the last quarter. Invesco Ltd. increased its position in Allstate by 3.0% during the 4th quarter. Invesco Ltd. now owns 3,681,306 shares of the insurance provider's stock valued at $709,719,000 after buying an additional 106,730 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Allstate by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock valued at $673,997,000 after purchasing an additional 477,221 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Stock Up 1.0%

NYSE ALL traded up $1.91 during trading on Friday, reaching $195.85. 1,370,899 shares of the company's stock were exchanged, compared to its average volume of 1,562,177. The stock has a market cap of $51.86 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.00 and a beta of 0.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The company has a 50 day moving average price of $199.34 and a two-hundred day moving average price of $196.88. The Allstate Corporation has a 1 year low of $166.46 and a 1 year high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 24.62% and a net margin of 6.19%. The firm's quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $5.13 earnings per share. On average, equities research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) is 27.32%.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. William Blair initiated coverage on Allstate in a research report on Friday, June 6th. They issued a "sector outperform" rating on the stock. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Wells Fargo & Company cut their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Finally, Morgan Stanley raised their target price on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and an average price target of $227.07.

Allstate 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.