The Allstate Corporation $ALL Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC decreased its holdings in The Allstate Corporation (NYSE:ALL) by 26.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,351 shares of the insurance provider’s stock after selling 866 shares during the quarter. Belpointe Asset Management LLC’s holdings in Allstate were worth $487,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in Allstate in the first quarter worth approximately $28,000. Meeder Asset Management Inc. grew its position in Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after buying an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in Allstate during the 1st quarter worth approximately $43,000. Mattson Financial Services LLC acquired a new stake in Allstate during the 4th quarter valued at $44,000. Finally, 1 North Wealth Services LLC acquired a new stake in Allstate during the 1st quarter valued at $51,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Down 1.0%

Allstate stock opened at $200.40 on Friday. The company’s fifty day simple moving average is $200.99 and its 200-day simple moving average is $200.45. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. The stock has a market cap of $52.81 billion, a P/E ratio of 9.42, a P/E/G ratio of 0.81 and a beta of 0.37.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the previous year, the company posted $1.61 EPS. Allstate’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate’s payout ratio is presently 18.81%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group boosted their target price on shares of Allstate from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Citigroup raised shares of Allstate to a “hold” rating in a research note on Wednesday, August 13th. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 target price (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Finally, William Blair assumed coverage on shares of Allstate in a research note on Friday, June 6th. They set a “sector outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.21.

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.