AssuredPartners Investment Advisors LLC Trims Stake in The Allstate Corporation (NYSE:ALL)

AssuredPartners Investment Advisors LLC lessened its position in The Allstate Corporation (NYSE:ALL) by 3.7% in the first quarter, HoldingsChannel reports. The firm owned 2,052 shares of the insurance provider’s stock after selling 79 shares during the quarter. AssuredPartners Investment Advisors LLC’s holdings in Allstate were worth $425,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ALL. Brighton Jones LLC lifted its position in Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Allstate in the 4th quarter worth about $231,000. Stenger Family Office LLC purchased a new position in Allstate during the 4th quarter valued at about $439,000. Sigma Planning Corp boosted its stake in Allstate by 5.1% during the fourth quarter. Sigma Planning Corp now owns 4,131 shares of the insurance provider’s stock worth $797,000 after acquiring an additional 200 shares in the last quarter. Finally, Howard Capital Management Inc. boosted its stake in Allstate by 5.2% during the fourth quarter. Howard Capital Management Inc. now owns 1,711 shares of the insurance provider’s stock worth $330,000 after acquiring an additional 85 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALL shares. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a report on Tuesday, April 8th. William Blair initiated coverage on Allstate in a research report on Friday, June 6th. They set a “sector outperform” rating for the company. Wells Fargo & Company dropped their target price on Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. BMO Capital Markets restated an “outperform” rating on shares of Allstate in a report on Friday, May 16th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $250.00 price target (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.20.

Allstate Price Performance

NYSE ALL opened at $196.12 on Wednesday. The Allstate Corporation has a one year low of $157.48 and a one year high of $213.18. The stock has a 50-day moving average of $200.91 and a 200 day moving average of $196.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $51.94 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.03 and a beta of 0.35.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the prior year, the company posted $5.13 EPS. Allstate’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS 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 issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, June 9th. Allstate’s dividend payout ratio is currently 27.32%.

Allstate announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are 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.