Wellington Management Group LLP Sells 874,438 Shares of The Allstate Co. (NYSE:ALL)

Wellington Management Group LLP decreased its stake in The Allstate Co. (NYSE:ALL - Free Report) by 91.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,351 shares of the insurance provider's stock after selling 874,438 shares during the period. Wellington Management Group LLP's holdings in Allstate were worth $16,455,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALL. 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. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Raymond James reiterated a "strong-buy" rating and issued a $250.00 price objective (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Finally, Barclays lowered their price objective on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $225.20.

Allstate Stock Performance

Shares of ALL stock traded down $1.23 during trading on Tuesday, reaching $211.41. The company had a trading volume of 1,263,468 shares, compared to its average volume of 1,608,232. The firm's 50 day simple moving average is $199.54 and its two-hundred day simple moving average is $196.87. The Allstate Co. has a one year low of $156.66 and a one year high of $213.04. 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 company has a market capitalization of $55.98 billion, a PE ratio of 12.44, a PEG ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 28.20% and a net margin of 7.28%. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same quarter in the previous year, the firm posted $5.13 earnings per share. Allstate's quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its board has authorized a stock repurchase program on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Monday, June 9th. Allstate's dividend payout ratio (DPR) is 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.