UMB Bank n.a. Reduces Stock Position in The Allstate Co. (NYSE:ALL)

UMB Bank n.a. cut its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,725 shares of the insurance provider's stock after selling 2,179 shares during the period. UMB Bank n.a.'s holdings in Allstate were worth $3,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Allstate during the 4th quarter valued at about $231,000. Stenger Family Office LLC bought a new position in shares of Allstate in the 4th quarter worth approximately $439,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Allstate by 38.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,632 shares of the insurance provider's stock worth $4,385,000 after purchasing an additional 6,235 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Allstate by 13.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,600 shares of the insurance provider's stock worth $1,272,000 after buying an additional 760 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on ALL shares. Morgan Stanley increased their price target on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Stock Performance

NYSE ALL opened at $208.10 on Monday. The stock has a market capitalization of $55.11 billion, a PE ratio of 12.25, a P/E/G ratio of 1.01 and a beta of 0.35. The business has a 50 day simple moving average of $199.59 and a two-hundred day simple moving average of $197.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The Allstate Co. has a 1-year low of $156.66 and a 1-year 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 for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same period last year, the business posted $5.13 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.92%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Allstate declared that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

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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