Vista Investment Partners LLC Cuts Stock Holdings in The Allstate Co. (NYSE:ALL)

Vista Investment Partners LLC reduced its position in The Allstate Co. (NYSE:ALL) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,431 shares of the insurance provider’s stock after selling 407 shares during the period. Vista Investment Partners LLC’s holdings in Allstate were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ALL. Brighton Jones LLC grew its position in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new stake in Allstate in the fourth quarter valued at approximately $231,000. Stenger Family Office LLC purchased a new stake in shares of Allstate in the fourth quarter valued at approximately $439,000. Valeo Financial Advisors LLC raised its stake in shares of Allstate by 8.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,243 shares of the insurance provider’s stock worth $818,000 after buying an additional 333 shares during the period. Finally, Congress Asset Management Co. lifted its position in shares of Allstate by 1.4% during the 4th quarter. Congress Asset Management Co. now owns 89,112 shares of the insurance provider’s stock valued at $17,180,000 after buying an additional 1,206 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Up 0.2%

Shares of ALL opened at $199.41 on Tuesday. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $213.18. The firm has a market capitalization of $52.81 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.01 and a beta of 0.35. The firm has a 50-day moving average price of $200.53 and a 200 day moving average price of $196.80. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

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

Allstate declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Allstate Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on ALL shares. Wells Fargo & Company cut their price target on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Barclays cut their target price on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Evercore ISI increased their target price on Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods lifted their price target on Allstate from $228.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.