Atlantic Union Bankshares Corp Sells 325 Shares of The Allstate Co. (NYSE:ALL)

Atlantic Union Bankshares Corp cut its stake in shares of The Allstate Co. (NYSE:ALL) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,605 shares of the insurance provider’s stock after selling 325 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Allstate were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. SageView Advisory Group LLC bought a new stake in Allstate during the fourth quarter worth about $456,000. Rafferty Asset Management LLC raised its position in Allstate by 5.7% in the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock worth $12,984,000 after purchasing an additional 4,987 shares during the period. Ellsworth Advisors LLC bought a new stake in Allstate in the fourth quarter worth $4,312,000. SteelPeak Wealth LLC boosted its position in Allstate by 175.2% during the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after buying an additional 9,984 shares during the period. Finally, Lighthouse Investment Partners LLC purchased a new stake in Allstate during the fourth quarter valued at about $5,927,000. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALL shares. Roth Mkm boosted their target price on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Evercore ISI increased their price objective on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group lifted their target price on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Wells Fargo & Company boosted their price target on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a report on Friday, May 10th. Finally, StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.88.

Allstate Stock Performance

ALL stock opened at $159.66 on Friday. The stock has a market capitalization of $42.14 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 1.86 and a beta of 0.50. The stock’s 50 day simple moving average is $165.87 and its 200 day simple moving average is $159.96. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37. The company has a current ratio of 0.36, a quick 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 EPS for the quarter, beating the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the firm posted ($1.30) earnings per share. Allstate’s revenue was up 10.7% compared to the same quarter last year. As a group, research analysts forecast that The Allstate Co. will post 12.15 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed 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 2.30%. The ex-dividend date of this dividend is Friday, May 31st. Allstate’s dividend payout ratio (DPR) is presently 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.