The Allstate Corporation (NYSE:ALL) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC lowered its position in shares of The Allstate Corporation (NYSE:ALL) by 7.9% in the first quarter, HoldingsChannel.com reports. The fund owned 1,113 shares of the insurance provider’s stock after selling 95 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Allstate were worth $230,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 worth $6,291,783,000 after purchasing an additional 389,426 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Allstate by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider’s stock worth $1,799,681,000 after buying an additional 218,771 shares during the period. Bank of America Corp DE raised its position in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock worth $1,270,705,000 after buying an additional 4,035,629 shares during the last quarter. Geode Capital Management LLC raised its position in Allstate by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock worth $1,236,060,000 after buying an additional 191,147 shares during the last quarter. Finally, GQG Partners LLC lifted its stake in Allstate by 64.1% during the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after acquiring 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 analysts have recently weighed in on ALL shares. Keefe, Bruyette & Woods increased their price objective 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. BMO Capital Markets reaffirmed an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on 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 note on Monday, March 3rd. Finally, Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average target price of $225.20.

Allstate Stock Down 1.3%

Shares of ALL opened at $195.68 on Friday. The firm has a market cap of $51.82 billion, a P/E ratio of 13.37, a PEG ratio of 1.02 and a beta of 0.35. The Allstate Corporation has a 12 month low of $157.48 and a 12 month high of $213.18. The stock’s 50 day moving average is $200.76 and its two-hundred day moving average is $196.74. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL) last released its quarterly 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 net margin of 6.19% and a return on equity of 24.62%. Allstate’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $5.13 EPS. Analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.04%. Allstate’s dividend payout ratio is currently 27.32%.

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