The Allstate Corporation $ALL Position Cut by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC trimmed its holdings in The Allstate Corporation (NYSE:ALL) by 36.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,340 shares of the insurance provider’s stock after selling 2,525 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Allstate were worth $903,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALL. Swedbank AB grew its holdings in Allstate by 2,157.8% in the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after buying an additional 823,559 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock worth $180,911,000 after buying an additional 822,583 shares in the last quarter. Woodline Partners LP bought a new position in Allstate in the 3rd quarter worth approximately $148,641,000. Ameriprise Financial Inc. grew its holdings in Allstate by 52.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after buying an additional 478,598 shares in the last quarter. Finally, Danske Bank A S bought a new position in Allstate in the 3rd quarter worth approximately $100,596,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ALL shares. Citigroup increased their price objective on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Finally, Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average price target of $238.65.

Allstate Stock Performance

Shares of NYSE ALL opened at $218.14 on Thursday. The stock has a fifty day moving average price of $208.51 and a two-hundred day moving average price of $205.49. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $56.33 billion, a P/E ratio of 5.71, a PEG ratio of 0.43 and a beta of 0.22. The Allstate Corporation has a 1 year low of $184.62 and a 1 year high of $219.48.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company posted $7.67 EPS. Research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is presently 11.31%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.