The Allstate Corporation (NYSE:ALL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 31.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,391,005 shares of the insurance provider's stock after selling 1,087,755 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.90% of Allstate worth $495,105,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vantage Point Financial LLC raised its stake in shares of Allstate by 3.6% during the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock worth $310,000 after buying an additional 52 shares during the period. Confluence Wealth Services Inc. increased its position in shares of Allstate by 0.7% during the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock worth $1,558,000 after purchasing an additional 54 shares in the last quarter. Achmea Investment Management B.V. increased its position in shares of Allstate by 0.3% during the first quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider's stock worth $4,262,000 after purchasing an additional 57 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Allstate by 1.7% during the first quarter. Avidian Wealth Enterprises LLC now owns 3,552 shares of the insurance provider's stock worth $735,000 after purchasing an additional 59 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of Allstate by 1.0% during the first quarter. Private Trust Co. NA now owns 5,995 shares of the insurance provider's stock worth $1,241,000 after purchasing an additional 60 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALL. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Raymond James Financial reiterated a "strong-buy" rating and set a $250.00 price target (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. Barclays dropped their price target on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods boosted their price target on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley boosted their price target on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Stock Performance

Shares of Allstate stock opened at $196.72 on Friday. The Allstate Corporation has a 52 week low of $158.04 and a 52 week high of $213.18. The business's fifty day simple moving average is $201.37 and its 200-day simple moving average is $196.65. The firm has a market cap of $52.09 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.03 and a beta of 0.33. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same period last year, the company earned $5.13 EPS. The business's revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, June 9th. Allstate's dividend payout ratio (DPR) is presently 27.32%.

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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