The Allstate Co. (NYSE:ALL) Stock Holdings Lifted by Ballentine Partners LLC

Ballentine Partners LLC boosted its stake in shares of The Allstate Co. (NYSE:ALL) by 2.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,549 shares of the insurance provider’s stock after purchasing an additional 253 shares during the period. Ballentine Partners LLC’s holdings in Allstate were worth $2,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Meyer Handelman Co. grew its position in Allstate by 14.3% during the first quarter. Meyer Handelman Co. now owns 165,925 shares of the insurance provider’s stock valued at $28,707,000 after purchasing an additional 20,813 shares in the last quarter. Capital CS Group LLC purchased a new position in Allstate during the first quarter valued at approximately $588,000. BTC Capital Management Inc. purchased a new position in Allstate during the first quarter valued at approximately $5,982,000. Marcum Wealth LLC purchased a new position in Allstate during the first quarter valued at approximately $211,000. Finally, Park Avenue Securities LLC grew its position in Allstate by 8.1% during the first quarter. Park Avenue Securities LLC now owns 4,506 shares of the insurance provider’s stock valued at $780,000 after purchasing an additional 336 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ALL. Evercore ISI boosted their price objective on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company lifted their target price on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $194.00 target price on shares of Allstate in a research note on Friday. Finally, HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and lifted their target price for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.88.

Allstate Stock Performance

ALL stock traded up $1.48 on Monday, reaching $161.99. 46,436 shares of the company were exchanged, compared to its average volume of 1,594,931. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $177.37. The stock’s fifty day moving average price is $166.53 and its 200 day moving average price is $159.54. The firm has a market capitalization of $42.75 billion, a PE ratio of 35.43, a PEG ratio of 1.55 and a beta of 0.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same quarter in the previous year, the firm posted ($1.30) earnings per share. Allstate’s revenue was up 10.7% compared to the same quarter last year. On average, research analysts anticipate that The Allstate Co. will post 14.99 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, May 31st. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

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.