Prepared Retirement Institute LLC Sells 400 Shares of The Allstate Corporation (NYSE:ALL)

Prepared Retirement Institute LLC cut its stake in shares of The Allstate Corporation (NYSE:ALL) by 11.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,104 shares of the insurance provider’s stock after selling 400 shares during the quarter. Prepared Retirement Institute LLC’s holdings in Allstate were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in ALL. Vanguard Group Inc. grew its stake in shares of Allstate by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock valued at $6,291,783,000 after buying an additional 389,426 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Allstate by 2.4% during 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 in the last quarter. Bank of America Corp DE raised its holdings in shares of Allstate by 157.9% in the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Allstate by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock valued at $1,236,060,000 after buying an additional 191,147 shares during the last quarter. Finally, GQG Partners LLC grew its position in shares of Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after buying an additional 1,685,694 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of NYSE:ALL opened at $193.20 on Monday. The company has a market capitalization of $51.16 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.00 and a beta of 0.33. The firm’s 50 day simple moving average is $200.99 and its 200 day simple moving average is $196.67. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The Allstate Corporation has a fifty-two week low of $162.27 and a fifty-two week high of $213.18.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same period in the prior year, the business earned $5.13 earnings per share. Allstate’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, June 9th. Allstate’s dividend payout ratio is currently 27.32%.

Wall Street Analyst Weigh In

ALL has been the topic of a number of recent research reports. Raymond James Financial restated a “strong-buy” rating and issued a $250.00 price objective (up from $240.00) on shares of Allstate in a research note on Monday, May 5th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $235.00 to $237.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Morgan Stanley upped their price target on shares of Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Evercore ISI upped their price target on shares of Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus target price of $227.07.

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.