The Allstate Co. (NYSE:ALL) Shares Sold by Greenfield Savings Bank

Greenfield Savings Bank trimmed its position in The Allstate Co. (NYSE:ALL) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,653 shares of the insurance provider’s stock after selling 266 shares during the quarter. Greenfield Savings Bank’s holdings in Allstate were worth $549,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. VSM Wealth Advisory LLC purchased a new stake in Allstate during the 4th quarter worth about $25,000. Twin Tree Management LP acquired a new stake in shares of Allstate during the 4th quarter worth about $27,000. Vision Financial Markets LLC purchased a new stake in Allstate during the fourth quarter worth approximately $29,000. Hopwood Financial Services Inc. acquired a new position in Allstate in the fourth quarter valued at approximately $29,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Allstate in the fourth quarter valued at approximately $29,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price 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. 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 research note on Tuesday, April 8th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley upped their target price on Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Finally, Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.20.

Allstate Stock Down 0.6%

Shares of Allstate stock opened at $211.41 on Wednesday. The Allstate Co. has a one year low of $156.66 and a one year high of $213.25. The company has a market cap of $55.98 billion, a P/E ratio of 12.44, a PEG ratio of 1.01 and a beta of 0.32. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The firm has a fifty day moving average of $199.58 and a two-hundred day moving average of $196.97.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. 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 business earned $5.13 EPS. Allstate’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be paid a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.89%. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

Allstate announced that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.