Mount Yale Investment Advisors LLC trimmed its position in Allstate Corp (NYSE:ALL) by 96.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,823 shares of the insurance provider’s stock after selling 67,108 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Allstate were worth $258,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Private Capital Group LLC lifted its holdings in shares of Allstate by 195.5% in the 1st quarter. Private Capital Group LLC now owns 1,182 shares of the insurance provider’s stock worth $112,000 after acquiring an additional 782 shares during the last quarter. Clearwater Capital Advisors LLC purchased a new stake in Allstate during the 1st quarter worth approximately $122,000. Kiley Juergens Wealth Management LLC purchased a new stake in Allstate during the 2nd quarter worth approximately $124,000. Summit Trail Advisors LLC increased its stake in Allstate by 11,436.6% during the 1st quarter. Summit Trail Advisors LLC now owns 147,438 shares of the insurance provider’s stock worth $147,000 after buying an additional 146,160 shares during the period. Finally, Archford Capital Strategies LLC purchased a new stake in Allstate during the 1st quarter worth approximately $158,000. Hedge funds and other institutional investors own 76.22% of the company’s stock.
NYSE:ALL traded down $0.01 during trading hours on Friday, reaching $93.16. 1,858,848 shares of the company’s stock were exchanged, compared to its average volume of 2,073,803. Allstate Corp has a 1-year low of $88.29 and a 1-year high of $105.36. The stock has a market cap of $34.17 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26.
Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 1st. The insurance provider reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.45. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $1.38 EPS. Sell-side analysts expect that Allstate Corp will post 9.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, August 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.98%. Allstate’s dividend payout ratio is presently 27.42%.
In other news, insider Glenn T. Shapiro sold 21,728 shares of Allstate stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $98.70, for a total transaction of $2,144,553.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan L. Lees sold 22,189 shares of Allstate stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total transaction of $2,202,036.36. The disclosure for this sale can be found here. Insiders sold a total of 54,432 shares of company stock valued at $5,386,208 in the last quarter. Insiders own 1.40% of the company’s stock.
ALL has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. ValuEngine downgraded shares of Allstate from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. B. Riley increased their target price on shares of Allstate from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Buckingham Research raised shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 target price on the stock in a research report on Wednesday, July 18th. Finally, Citigroup dropped their target price on shares of Allstate from $108.00 to $107.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Allstate presently has an average rating of “Hold” and an average price target of $104.62.
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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