Van Hulzen Asset Management LLC Trims Holdings in The Allstate Corporation $ALL

Key Points

• Van Hulzen Asset Management LLC has cut its stake in The Allstate Corporation by 46%, owning 1,998 shares worth $414,000 following the sale of 1,700 shares.
• Allstate's earnings report revealed $5.94 earnings per share, significantly surpassing the consensus estimate of $3.20, although revenue of $15.05 billion fell short of expectations.
• The company announced a quarterly dividend of $1.00 per share, reflecting an annualized dividend of $4.00 and a yield of 1.9%, with a dividend payout ratio of 18.81%.

Van Hulzen Asset Management LLC decreased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 46.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,998 shares of the insurance provider's stock after selling 1,700 shares during the period. Van Hulzen Asset Management LLC's holdings in Allstate were worth $414,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALL. Brighton Jones LLC boosted its position in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Allstate during the 4th quarter worth $231,000. MML Investors Services LLC boosted its holdings in shares of Allstate by 51.1% in the 4th quarter. MML Investors Services LLC now owns 10,634 shares of the insurance provider's stock worth $2,050,000 after buying an additional 3,595 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Allstate by 4.8% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,501 shares of the insurance provider's stock valued at $868,000 after buying an additional 207 shares during the period. Finally, Syon Capital LLC increased its holdings in Allstate by 4.1% during the fourth quarter. Syon Capital LLC now owns 2,293 shares of the insurance provider's stock worth $442,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Trading Up 0.3%

Shares of NYSE:ALL traded up $0.67 on Wednesday, reaching $203.85. 858,982 shares of the company traded hands, compared to its average volume of 1,722,514. The stock has a market capitalization of $53.72 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 0.82 and a beta of 0.35. The business's 50-day simple moving average is $199.31 and its 200 day simple moving average is $199.21. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the previous year, the company posted $1.61 EPS. Allstate's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate 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 paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio is 18.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. William Blair initiated coverage on shares of Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. BMO Capital Markets raised their price objective on shares of Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Barclays reissued an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Jefferies Financial Group raised their price target on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and an average price target of $230.73.

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.