Wesbanco Bank Inc. Has $1.32 Million Holdings in The Allstate Co. (NYSE:ALL)

Wesbanco Bank Inc. lowered its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 59.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,360 shares of the insurance provider's stock after selling 9,280 shares during the quarter. Wesbanco Bank Inc.'s holdings in Allstate were worth $1,317,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALL. Brighton Jones LLC lifted its holdings in Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Allstate in the 4th quarter valued at about $231,000. Stenger Family Office LLC acquired a new stake in Allstate in the 4th quarter worth about $439,000. Golden State Wealth Management LLC purchased a new stake in Allstate during the 4th quarter worth approximately $57,000. Finally, Apollon Wealth Management LLC raised its holdings in shares of Allstate by 70.5% during the fourth quarter. Apollon Wealth Management LLC now owns 10,062 shares of the insurance provider's stock valued at $1,940,000 after acquiring an additional 4,161 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price objective on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. William Blair began coverage on Allstate in a report on Friday. They set a "sector outperform" rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $225.20.

Allstate Price Performance

Shares of ALL stock traded down $4.53 during midday trading on Tuesday, reaching $196.24. 1,301,624 shares of the company traded hands, compared to its average volume of 1,610,582. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $213.18. 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 firm's 50 day simple moving average is $199.49 and its two-hundred day simple moving average is $197.10. The firm has a market cap of $51.97 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.01 and a beta of 0.35.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $16.41 billion. During the same quarter in the previous year, the firm posted $5.13 EPS. The business's revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that The Allstate Co. will post 18.74 EPS for the current fiscal year.

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

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, June 9th. 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.