Aries Wealth Management Sells 1,090 Shares of The Allstate Co. (NYSE:ALL)

Aries Wealth Management cut its position in The Allstate Co. (NYSE:ALL) by 44.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,350 shares of the insurance provider’s stock after selling 1,090 shares during the quarter. Aries Wealth Management’s holdings in Allstate were worth $280,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock worth $1,270,705,000 after acquiring an additional 4,035,629 shares in the last quarter. Norges Bank bought a new stake in shares of Allstate during the 4th quarter valued at $344,354,000. GQG Partners LLC raised its stake in shares of Allstate by 64.1% during the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after purchasing an additional 1,685,694 shares during the period. GAMMA Investing LLC lifted its holdings in Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider’s stock worth $263,785,000 after purchasing an additional 1,268,825 shares in the last quarter. Finally, Castle Hook Partners LP boosted its stake in Allstate by 1,303.3% in the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider’s stock worth $159,021,000 after purchasing an additional 766,058 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. William Blair assumed coverage on shares of Allstate in a report on Friday, June 6th. They issued a “sector outperform” rating for the company. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Barclays lowered their price objective on Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.20.

Allstate Stock Performance

Shares of NYSE ALL opened at $198.61 on Monday. The stock has a market cap of $52.60 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.01 and a beta of 0.35. The stock’s 50-day moving average is $200.21 and its 200 day moving average is $196.86. 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 1-year low of $156.66 and a 1-year high of $213.18.

Allstate (NYSE:ALL) last posted its quarterly earnings results 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 28.20% and a net margin of 7.28%. The business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $16.41 billion. During the same period last year, the business posted $5.13 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

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

Allstate Announces Dividend

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

Allstate 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.