The Allstate Corporation (NYSE:ALL) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lowered its position in The Allstate Corporation (NYSE:ALL) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,398 shares of the insurance provider’s stock after selling 295 shares during the quarter. Allstate makes up approximately 1.0% of Carret Asset Management LLC’s portfolio, making the stock its 20th biggest position. Carret Asset Management LLC’s holdings in Allstate were worth $8,986,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ALL. Wells Fargo & Company reduced their price objective on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Barclays dropped their target price on Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Evercore ISI increased their price target on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. Finally, Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $225.20.

Allstate Stock Performance

NYSE:ALL opened at $195.68 on Friday. The firm’s fifty day simple moving average is $200.76 and its 200-day simple moving average is $196.74. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The stock has a market cap of $51.82 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.02 and a beta of 0.35. The Allstate Corporation has a fifty-two week low of $157.48 and a fifty-two week high of $213.18.

Allstate (NYSE:ALL) last released 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 return on equity of 24.62% and a net margin of 6.19%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $16.41 billion. During the same period in the prior year, the firm posted $5.13 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, June 9th. Allstate’s dividend payout ratio (DPR) is 27.32%.

Allstate declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits 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.

About Allstate

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.