Siemens Fonds Invest GmbH Sells 1,297 Shares of The Allstate Co. (NYSE:ALL)

Siemens Fonds Invest GmbH lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 40.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,948 shares of the insurance provider’s stock after selling 1,297 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Allstate were worth $376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intrust Bank NA boosted its holdings in shares of Allstate by 0.5% during the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock worth $2,340,000 after buying an additional 61 shares during the period. Perigon Wealth Management LLC boosted its holdings in Allstate by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock valued at $571,000 after acquiring an additional 62 shares during the period. Mather Group LLC. grew its position in shares of Allstate by 1.7% in the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after purchasing an additional 62 shares during the last quarter. Angeles Wealth Management LLC increased its stake in shares of Allstate by 4.6% in the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock worth $270,000 after purchasing an additional 62 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Allstate by 4.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock worth $290,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ALL shares. Evercore ISI raised their target price on Allstate from $227.00 to $230.00 and gave the company an “outperform” 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. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Morgan Stanley increased their price target on shares of Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Finally, Barclays dropped their price objective on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.20.

Allstate Stock Up 1.9%

Shares of ALL opened at $209.13 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $199.48 and a two-hundred day moving average price of $195.69. The stock has a market cap of $55.38 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 1.01 and a beta of 0.32. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $5.13 earnings per share. Equities analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is currently 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.