CoreCap Advisors LLC Has $50,000 Holdings in The Allstate Co. (NYSE:ALL)

CoreCap Advisors LLC trimmed its position in The Allstate Co. (NYSE:ALL) by 59.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 258 shares of the insurance provider’s stock after selling 378 shares during the period. CoreCap Advisors LLC’s holdings in Allstate were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Apella Capital LLC grew its position in Allstate by 1.9% in the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock worth $623,000 after purchasing an additional 60 shares in the last quarter. Intrust Bank NA grew its position in Allstate by 0.5% in the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock worth $2,340,000 after purchasing an additional 61 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of Allstate by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock valued at $571,000 after acquiring an additional 62 shares during the period. Mather Group LLC. grew its position in shares of Allstate by 1.7% during the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after acquiring an additional 62 shares during the period. Finally, Angeles Wealth Management LLC grew its position in shares of Allstate by 4.6% during the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 62 shares during the period. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

NYSE ALL opened at $200.70 on Thursday. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $212.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The stock has a market capitalization of $53.15 billion, a PE ratio of 11.81, a P/E/G ratio of 1.01 and a beta of 0.32. The company’s 50 day simple moving average is $199.22 and its two-hundred day simple moving average is $195.38.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. During the same quarter in the prior year, the company earned $5.13 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts predict that The Allstate Co. will post 18.74 earnings per share 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 given a dividend of $1.00 per share. The ex-dividend date was Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.99%. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is 27.32%.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALL. Raymond James reissued a “strong-buy” rating and set a $250.00 target price (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. Wells Fargo & Company reduced 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 report on Tuesday, May 6th. Barclays reduced their target price on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research report on Friday, April 11th. Morgan Stanley increased their target price on shares of Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Finally, StockNews.com raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.20.

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.