Union Bancaire Privee UBP SA Decreases Stake in The Allstate Co. (NYSE:ALL)

Union Bancaire Privee UBP SA reduced its holdings in The Allstate Co. (NYSE:ALL) by 25.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,500 shares of the insurance provider’s stock after selling 500 shares during the period. Union Bancaire Privee UBP SA’s holdings in Allstate were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. VSM Wealth Advisory LLC purchased a new position in shares of Allstate in the fourth quarter worth about $25,000. Twin Tree Management LP purchased a new position in shares of Allstate in the fourth quarter worth about $27,000. Vision Financial Markets LLC purchased a new position in shares of Allstate in the fourth quarter worth about $29,000. Hopwood Financial Services Inc. purchased a new position in shares of Allstate in the fourth quarter worth about $29,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Allstate during the fourth quarter worth about $29,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of ALL opened at $198.61 on Friday. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $213.18. The stock has a market cap of $52.60 billion, a PE ratio of 11.69, a P/E/G ratio of 1.01 and a beta of 0.35. The firm has a 50-day simple moving average of $200.21 and a two-hundred day simple moving average of $197.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same quarter in the prior year, the business earned $5.13 earnings per share. Allstate’s revenue was up 7.8% on a year-over-year basis. As a group, analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

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

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Monday, June 9th. Allstate’s dividend payout ratio is presently 27.32%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALL shares. Keefe, Bruyette & Woods raised 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. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. BMO Capital Markets restated an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. Finally, William Blair started coverage on shares of Allstate in a research report on Friday, June 6th. They set a “sector outperform” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus target price 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.