State Street Corp Cuts Stock Position in The Allstate Co. (NYSE:ALL)

State Street Corp lessened its holdings in The Allstate Co. (NYSE:ALLGet Rating) by 2.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,887,090 shares of the insurance provider’s stock after selling 410,676 shares during the period. State Street Corp owned 5.05% of Allstate worth $1,935,376,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Private Trust Co. NA boosted its holdings in shares of Allstate by 6.5% during the 1st quarter. Private Trust Co. NA now owns 4,819 shares of the insurance provider’s stock valued at $667,000 after purchasing an additional 293 shares during the last quarter. Carnegie Capital Asset Management LLC bought a new position in shares of Allstate in the 1st quarter valued at about $203,000. Zullo Investment Group Inc. lifted its holdings in shares of Allstate by 13.1% in the 1st quarter. Zullo Investment Group Inc. now owns 1,725 shares of the insurance provider’s stock valued at $239,000 after acquiring an additional 200 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Allstate by 136.6% in the 1st quarter. Acadian Asset Management LLC now owns 23,017 shares of the insurance provider’s stock valued at $3,186,000 after acquiring an additional 13,289 shares during the last quarter. Finally, Tobam lifted its holdings in shares of Allstate by 46.5% in the 1st quarter. Tobam now owns 1,465 shares of the insurance provider’s stock valued at $203,000 after acquiring an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 76.17% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $126.44 on Monday. The firm has a market cap of $34.18 billion, a price-to-earnings ratio of 44.06, a PEG ratio of 4.28 and a beta of 0.71. The company’s 50 day moving average is $123.42 and its 200 day moving average is $128.23. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.44. The Allstate Co. has a 52-week low of $106.11 and a 52-week high of $144.46.

Allstate (NYSE:ALLGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The insurance provider reported ($0.76) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.50. Allstate had a return on equity of 7.53% and a net margin of 1.99%. The firm had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.16 billion. During the same quarter in the prior year, the business posted $3.79 EPS. On average, sell-side analysts anticipate that The Allstate Co. will post 4.79 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.85 per share. The ex-dividend date is Tuesday, August 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.69%. Allstate’s dividend payout ratio is currently 118.47%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ALL shares. Evercore ISI increased their price target on shares of Allstate to $126.00 in a report on Tuesday, August 9th. Morgan Stanley lowered their price target on shares of Allstate from $152.00 to $139.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Barclays decreased their price objective on shares of Allstate from $123.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, August 8th. Argus downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Finally, TheStreet downgraded shares of Allstate from a “b” rating to a “c+” rating in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average price target of $142.00.

Allstate Company Profile

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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