The Allstate Corporation (NYSE:ALL) Stock Holdings Trimmed by Sheaff Brock Investment Advisors LLC

Key Points

• Sheaff Brock Investment Advisors LLC has reduced its stake in The Allstate Corporation by 14.8%, holding 8,066 shares worth $1,670,000 after selling 1,400 shares in the first quarter.
• Several institutional investors have increased their holdings in Allstate, with Bank of America Corp DE boosting its stake by 157.9% and acquiring additional shares valued at approximately $1.27 billion.
• The Allstate Corporation recently announced a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 2.04% with a dividend payout ratio of 27.32%.

Sheaff Brock Investment Advisors LLC reduced its position in The Allstate Corporation (NYSE:ALL - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,066 shares of the insurance provider's stock after selling 1,400 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Allstate were worth $1,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Bank of America Corp DE boosted its stake in Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares during the period. Norges Bank acquired a new position in Allstate in the fourth quarter valued at approximately $344,354,000. GAMMA Investing LLC boosted its stake in Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares during the period. Castle Hook Partners LP boosted its stake in Allstate by 1,303.3% in the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after acquiring an additional 766,058 shares during the period. Finally, Menora Mivtachim Holdings LTD. acquired a new position in Allstate in the fourth quarter valued at approximately $143,165,000. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALL. Morgan Stanley boosted their price objective on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. UBS Group boosted their price objective on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, William Blair began coverage on Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $227.07.

Allstate Trading Up 1.0%

Shares of Allstate stock opened at $195.85 on Monday. 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 market cap of $51.86 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. The business has a fifty day simple moving average of $199.34 and a 200-day simple moving average of $196.95. The Allstate Corporation has a fifty-two week low of $166.46 and a fifty-two week high of $213.18.

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

Allstate Dividend Announcement

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

Allstate Company 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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