Raymond James Financial Services Advisors Inc. Sells 52,045 Shares of The Allstate Co. (NYSE:ALL)

Raymond James Financial Services Advisors Inc. lowered its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 810,035 shares of the insurance provider's stock after selling 52,045 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.31% of Allstate worth $140,144,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Allstate in the third quarter worth $25,000. Private Wealth Management Group LLC purchased a new stake in shares of Allstate in the fourth quarter worth about $25,000. Rise Advisors LLC purchased a new stake in shares of Allstate in the first quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in Allstate during the first quarter valued at approximately $26,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Allstate during the 4th quarter valued at approximately $36,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Up 0.3 %

Allstate stock traded up $0.46 during mid-day trading on Tuesday, hitting $170.04. The company's stock had a trading volume of 1,124,609 shares, compared to its average volume of 1,668,521. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The company has a 50 day moving average of $165.45 and a 200-day moving average of $150.37. The Allstate Co. has a one year low of $100.57 and a one year high of $176.93. The stock has a market cap of $44.73 billion, a PE ratio of -137.13, a P/E/G ratio of 0.42 and a beta of 0.52.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping analysts' consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm had revenue of $14.83 billion for the quarter, compared to analysts' expectations of $12.69 billion. During the same period in the prior year, the business posted ($1.36) earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. On average, research analysts anticipate that The Allstate Co. will post 13.44 EPS for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Allstate's previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.16%. Allstate's dividend payout ratio (DPR) is -296.77%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. TD Cowen started coverage on Allstate in a research report on Wednesday, January 10th. They set an "outperform" rating and a $193.00 target price for the company. UBS Group lifted their price objective on shares of Allstate from $171.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, February 12th. Raymond James upped their target price on shares of Allstate from $155.00 to $180.00 and gave the company a "strong-buy" rating in a research report on Monday, January 22nd. Roth Mkm increased their price target on shares of Allstate from $175.00 to $200.00 and gave the company a "buy" rating in a report on Monday, April 8th. Finally, Morgan Stanley boosted their price objective on Allstate from $187.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $173.71.

Insider Activity

In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company's stock, valued at $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider John E. Dugenske sold 31,000 shares of the company's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares of the company's stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of the firm's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Allstate 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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