Jeppson Wealth Management LLC Decreases Stock Holdings in The Allstate Corporation (NYSE:ALL)

Jeppson Wealth Management LLC lowered its stake in shares of The Allstate Corporation (NYSE:ALL) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,612 shares of the insurance provider’s stock after selling 95 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Allstate were worth $955,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Allstate by 56.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider’s stock valued at $36,012,000 after acquiring an additional 67,032 shares in the last quarter. Keybank National Association OH increased its holdings in Allstate by 1.7% in the 4th quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider’s stock worth $66,489,000 after buying an additional 5,786 shares during the period. Blackstone Inc. acquired a new position in Allstate in the 4th quarter worth approximately $52,053,000. First Citizens Bank & Trust Co. increased its holdings in Allstate by 5.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider’s stock worth $11,906,000 after buying an additional 2,981 shares during the period. Finally, LexAurum Advisors LLC acquired a new position in Allstate in the 1st quarter worth approximately $317,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 0.8%

Shares of ALL opened at $195.67 on Friday. The Allstate Corporation has a 52-week low of $157.50 and a 52-week high of $213.18. The company has a market capitalization of $51.82 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.35. The stock has a fifty day simple moving average of $200.85 and a two-hundred day simple moving average of $196.47. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL) last issued its 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). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same period last year, the business earned $5.13 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Monday, June 9th. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

Wall Street Analyst Weigh In

ALL has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. William Blair began coverage on Allstate in a research report on Friday, June 6th. They issued a “sector outperform” rating on the stock. Morgan Stanley upped their price objective on Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Finally, BMO Capital Markets restated an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. One equities 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, Allstate has an average rating of “Moderate Buy” and an average target price of $225.20.

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.