44 Wealth Management LLC Sells 522 Shares of The Allstate Corporation (NYSE:ALL)

by · The Markets Daily

44 Wealth Management LLC lowered its position in shares of The Allstate Corporation (NYSE:ALL – Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,913 shares of the insurance provider’s stock after selling 522 shares during the quarter. Allstate makes up approximately 1.2% of 44 Wealth Management LLC’s holdings, making the stock its 13th biggest holding. 44 Wealth Management LLC’s holdings in Allstate were worth $3,295,000 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 company. Calamos Advisors LLC raised its stake in shares of Allstate by 1.1% in the first quarter. Calamos Advisors LLC now owns 99,254 shares of the insurance provider’s stock valued at $20,553,000 after acquiring an additional 1,104 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Allstate by 5.2% in the first quarter. Checchi Capital Advisers LLC now owns 3,375 shares of the insurance provider’s stock worth $699,000 after purchasing an additional 167 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of Allstate by 14.7% in the first quarter. Mutual Advisors LLC now owns 2,673 shares of the insurance provider’s stock valued at $516,000 after buying an additional 342 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Allstate by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 22,771 shares of the insurance provider’s stock worth $4,715,000 after buying an additional 110 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in Allstate by 4.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 1,941 shares of the insurance provider’s stock worth $404,000 after acquiring an additional 76 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Up 1.0%

Allstate stock opened at $196.72 on Friday. The firm has a market capitalization of $52.09 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.01 and a beta of 0.33. The company’s 50 day simple moving average is $201.30 and its 200 day simple moving average is $196.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The Allstate Corporation has a fifty-two week low of $157.50 and a fifty-two week high of $213.18.

Allstate (NYSE:ALL – Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same period in the previous year, the business posted $5.13 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, June 9th. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ALL shares. Wells Fargo & Company dropped their target price on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $228.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price objective on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Barclays lowered their target price on Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

Get Our Latest Research Report on Allstate

About Allstate

(Free Report)

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.

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