The Allstate Corporation (NYSE:ALL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of The Allstate Corporation (NYSE:ALL) by 31.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,391,005 shares of the insurance provider’s stock after selling 1,087,755 shares during the period. Bank of New York Mellon Corp’s holdings in Allstate were worth $495,105,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. World Investment Advisors lifted its stake in Allstate by 2.4% during the 1st quarter. World Investment Advisors now owns 38,439 shares of the insurance provider’s stock worth $7,960,000 after acquiring an additional 899 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Allstate during the 1st quarter worth about $54,000. von Borstel & Associates Inc. acquired a new position in Allstate during the 1st quarter worth about $101,000. Impax Asset Management Group plc lifted its stake in Allstate by 3.6% during the 1st quarter. Impax Asset Management Group plc now owns 4,194 shares of the insurance provider’s stock worth $868,000 after acquiring an additional 144 shares in the last quarter. Finally, Argyle Capital Management LLC lifted its stake in Allstate by 3.3% during the 1st quarter. Argyle Capital Management LLC now owns 16,035 shares of the insurance provider’s stock worth $3,320,000 after acquiring an additional 517 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Wells Fargo & Company reduced their price target on Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Barclays reduced their price target on Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. increased their price target on Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods increased their price target on Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

Allstate Trading Up 1.0%

ALL opened at $196.72 on Friday. The Allstate Corporation has a one year low of $158.04 and a one year high of $213.18. The company has a market cap of $52.09 billion, a P/E ratio of 13.44, a PEG ratio of 1.03 and a beta of 0.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The business’s 50-day simple moving average is $201.37 and its 200-day simple moving average is $196.65.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. During the same quarter in the previous year, the company posted $5.13 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th were issued a $1.00 dividend. The ex-dividend date was Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.03%. Allstate’s payout ratio is currently 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.