Bowman & Co S.C. Lowers Holdings in The Allstate Co. (NYSE:ALL)

Bowman & Co S.C. trimmed its holdings in The Allstate Co. (NYSE:ALL) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,380 shares of the insurance provider’s stock after selling 156 shares during the quarter. Bowman & Co S.C.’s holdings in Allstate were worth $931,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in shares of Allstate during the 1st quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate during the 1st quarter worth about $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Allstate during the 4th quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Allstate during the 4th quarter worth about $36,000. Finally, Venturi Wealth Management LLC lifted its stake in Allstate by 152.7% in the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after buying an additional 168 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 research analysts recently weighed in on the stock. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and raised their price target for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. Morgan Stanley raised their price target on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their price target 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. Roth Mkm raised their price target on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group increased their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.88.

Allstate Stock Performance

Shares of ALL stock opened at $158.21 on Thursday. The stock has a market capitalization of $41.75 billion, a PE ratio of 34.93, a P/E/G ratio of 1.90 and a beta of 0.50. The firm has a 50 day moving average of $166.41 and a two-hundred day moving average of $159.86. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.30) EPS. On average, research analysts predict that The Allstate Co. will post 12.15 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 2.33%. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

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.