Union Bancaire Privee UBP SA Lowers Holdings in The Allstate Co. (NYSE:ALL)

Union Bancaire Privee UBP SA decreased its holdings in The Allstate Co. (NYSE:ALL) by 25.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,500 shares of the insurance provider’s stock after selling 500 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Allstate were worth $291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Allstate by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock valued at $6,291,783,000 after purchasing an additional 389,426 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Allstate by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider’s stock valued at $1,799,681,000 after purchasing an additional 218,771 shares during the period. Bank of America Corp DE boosted its stake in shares of Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares during the period. Geode Capital Management LLC boosted its stake in shares of Allstate by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock valued at $1,236,060,000 after purchasing an additional 191,147 shares during the period. Finally, GQG Partners LLC boosted its stake in shares of Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after purchasing an additional 1,685,694 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a research note on Friday, May 16th. Morgan Stanley lifted their price target on shares of Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Barclays decreased their price target on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $228.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.20.

Allstate Stock Down 0.9%

Shares of NYSE:ALL opened at $198.61 on Friday. The company has a market capitalization of $52.60 billion, a PE ratio of 11.69, a P/E/G ratio of 1.01 and a beta of 0.35. 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 Allstate Co. has a twelve month low of $156.66 and a twelve month high of $213.18. The firm has a 50 day simple moving average of $200.21 and a 200-day simple moving average of $197.01.

Allstate (NYSE:ALL) last issued its quarterly earnings data 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). The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.13 EPS. On average, equities analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be issued 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 2.01%. Allstate’s payout ratio is 27.32%.

Allstate declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.