HBK Sorce Advisory LLC reduced its stake in Allstate Corp (NYSE:ALL) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,151 shares of the insurance provider’s stock after selling 158 shares during the period. HBK Sorce Advisory LLC’s holdings in Allstate were worth $219,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ALL. Manchester Financial Inc. bought a new stake in shares of Allstate in the second quarter valued at about $25,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Allstate during the second quarter worth approximately $27,000. Mcmillion Capital Management Inc. bought a new stake in shares of Allstate during the second quarter worth approximately $35,000. Webster Bank N. A. boosted its holdings in shares of Allstate by 100.0% during the second quarter. Webster Bank N. A. now owns 400 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 200 shares during the period. Finally, Glassman Wealth Services boosted its holdings in shares of Allstate by 134.7% during the first quarter. Glassman Wealth Services now owns 453 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 76.81% of the company’s stock.
ALL has been the subject of several recent research reports. Goldman Sachs Group upgraded Allstate from a “neutral” rating to a “buy” rating and boosted their price target for the company from $106.00 to $110.00 in a research note on Wednesday, May 29th. Barclays set a $125.00 price target on shares of Allstate and gave the stock a “buy” rating in a report on Monday, August 12th. Morgan Stanley upped their price target on shares of Allstate from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Credit Suisse Group downgraded shares of Allstate from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $100.00 to $94.00 in a report on Thursday, July 11th. Finally, Buckingham Research upped their price target on shares of Allstate from $100.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Allstate has an average rating of “Hold” and an average price target of $107.92.
NYSE:ALL traded down $0.23 on Wednesday, hitting $107.53. The stock had a trading volume of 99,356 shares, compared to its average volume of 1,438,305. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $35.53 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.36 and a beta of 0.82. Allstate Corp has a 1 year low of $77.00 and a 1 year high of $109.55. The firm’s fifty day simple moving average is $104.42 and its two-hundred day simple moving average is $99.97.
Allstate (NYSE:ALL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.18 EPS for the quarter, topping the consensus estimate of $1.48 by $0.70. The business had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. Allstate had a net margin of 6.52% and a return on equity of 12.66%. Allstate’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 earnings per share. Equities research analysts predict that Allstate Corp will post 9.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a $0.50 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.86%. Allstate’s dividend payout ratio (DPR) is presently 24.78%.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits 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 insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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