The Allstate Co. (NYSE:ALL) Shares Sold by First Financial Corp IN

First Financial Corp IN cut its holdings in shares of The Allstate Co. (NYSE:ALL) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,091 shares of the insurance provider’s stock after selling 125 shares during the period. First Financial Corp IN’s holdings in Allstate were worth $226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Unigestion Holding SA purchased a new stake in Allstate during the 1st quarter worth approximately $1,574,000. RFG Advisory LLC lifted its position in shares of Allstate by 29.9% during the first quarter. RFG Advisory LLC now owns 1,467 shares of the insurance provider’s stock worth $304,000 after purchasing an additional 338 shares during the last quarter. Fulton Bank N.A. grew its stake in Allstate by 73.6% in the first quarter. Fulton Bank N.A. now owns 4,645 shares of the insurance provider’s stock worth $962,000 after purchasing an additional 1,969 shares in the last quarter. Merit Financial Group LLC grew its stake in Allstate by 120.7% in the first quarter. Merit Financial Group LLC now owns 8,627 shares of the insurance provider’s stock worth $1,786,000 after purchasing an additional 4,718 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in Allstate by 22.5% in the first quarter. Harbor Investment Advisory LLC now owns 1,813 shares of the insurance provider’s stock valued at $375,000 after buying an additional 333 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

ALL opened at $212.57 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $199.54 and its 200-day moving average is $196.87. The stock has a market cap of $56.29 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $212.91.

Allstate (NYSE:ALL) last announced 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 the consensus estimate of $16.41 billion. During the same period in the previous year, the firm earned $5.13 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 1.88%. Allstate’s dividend payout ratio is presently 27.32%.

Allstate announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their target price on Allstate from $228.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $250.00 price objective (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

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.