Transcend Capital Advisors LLC Sells 2,324 Shares of The Allstate Corporation (NYSE:ALL)

Transcend Capital Advisors LLC decreased its holdings in The Allstate Corporation (NYSE:ALL) by 26.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,517 shares of the insurance provider’s stock after selling 2,324 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Allstate were worth $1,349,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Allstate in the 4th quarter worth $231,000. Stenger Family Office LLC bought a new stake in shares of Allstate in the fourth quarter worth $439,000. New York Life Investment Management LLC increased its position in Allstate by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 39,228 shares of the insurance provider’s stock valued at $7,563,000 after acquiring an additional 226 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in Allstate by 2.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 102,873 shares of the insurance provider’s stock valued at $19,833,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

ALL has been the subject of a number of recent research reports. Raymond James Financial restated a “strong-buy” rating and set a $250.00 price target (up from $240.00) on shares of Allstate in a research note on Monday, May 5th. Evercore ISI boosted their target price on shares of Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Finally, William Blair assumed coverage on Allstate in a research note on Friday, June 6th. They issued a “sector outperform” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.20.

Allstate Price Performance

NYSE:ALL opened at $195.67 on Friday. The business’s 50-day simple moving average is $200.85 and its two-hundred day simple moving average is $196.47. The Allstate Corporation has a 52 week low of $157.50 and a 52 week high of $213.18. The stock has a market cap of $51.82 billion, a PE ratio of 13.37, a P/E/G ratio of 1.01 and a beta of 0.35. 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 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 business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same period last year, the business posted $5.13 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

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 issued a $1.00 dividend. 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 presently 27.32%.

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.