The Allstate Corporation (NYSE:ALL) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. lessened its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 17.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,600 shares of the insurance provider's stock after selling 22,100 shares during the quarter. Adams Diversified Equity Fund Inc.'s holdings in Allstate were worth $21,038,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. VSM Wealth Advisory LLC purchased a new position in shares of Allstate in the 4th quarter valued at $25,000. Twin Tree Management LP purchased a new position in shares of Allstate in the 4th quarter valued at $27,000. Vision Financial Markets LLC purchased a new position in shares of Allstate in the 4th quarter valued at $29,000. Hopwood Financial Services Inc. purchased a new position in shares of Allstate in the 4th quarter valued at $29,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Allstate in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ALL. Evercore ISI raised their target price on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Morgan Stanley raised 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. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $225.20.

Allstate Trading Down 1.1%

Allstate stock opened at $196.12 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $200.91 and a two-hundred day moving average price of $196.53. The firm has a market capitalization of $51.94 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.03 and a beta of 0.35. The Allstate Corporation has a 52-week low of $157.48 and a 52-week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last posted its 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 firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.13 earnings per share. Sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid 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 Monday, June 9th. Allstate's payout ratio is 27.32%.

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.

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