Cresset Asset Management LLC Has $1.24 Million Holdings in The Allstate Co. (NYSE:ALL)

Cresset Asset Management LLC cut its holdings in shares of The Allstate Co. (NYSE:ALL) by 70.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,394 shares of the insurance provider’s stock after selling 15,381 shares during the period. Cresset Asset Management LLC’s holdings in Allstate were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Allstate by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 313,754 shares of the insurance provider’s stock valued at $59,503,000 after acquiring an additional 5,980 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Allstate by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 97,567 shares of the insurance provider’s stock valued at $18,503,000 after acquiring an additional 397 shares during the last quarter. Czech National Bank increased its stake in shares of Allstate by 6.7% in the 4th quarter. Czech National Bank now owns 57,415 shares of the insurance provider’s stock valued at $11,069,000 after acquiring an additional 3,628 shares during the last quarter. Aprio Wealth Management LLC increased its stake in shares of Allstate by 26.4% in the 4th quarter. Aprio Wealth Management LLC now owns 1,719 shares of the insurance provider’s stock valued at $331,000 after acquiring an additional 359 shares during the last quarter. Finally, Fiduciary Alliance LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $451,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ALL shares. Evercore ISI increased their target price on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. Morgan Stanley increased their target price on Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods increased their target price on Allstate from $228.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average target price of $225.20.

Allstate Trading Down 0.0%

NYSE ALL opened at $202.57 on Monday. The company has a market cap of $53.64 billion, a PE ratio of 11.92, a PEG ratio of 1.01 and a beta of 0.32. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The stock has a 50 day moving average of $199.06 and a 200-day moving average of $195.19.

Allstate (NYSE:ALL) last released 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). The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. Allstate had a net margin of 7.28% and a return on equity of 28.20%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $5.13 EPS. On average, equities research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is presently 27.32%.

Allstate announced that its board has approved a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Allstate Company Profile

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.