Kestra Advisory Services LLC Sells 1,635 Shares of The Allstate Corporation $ALL

Kestra Advisory Services LLC reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 9.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 16,566 shares of the insurance provider’s stock after selling 1,635 shares during the period. Kestra Advisory Services LLC’s holdings in Allstate were worth $3,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ALL. Bank of America Corp DE lifted its position in shares of Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock worth $1,270,705,000 after buying an additional 4,035,629 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Allstate by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock worth $2,424,710,000 after buying an additional 2,374,684 shares during the last quarter. Boston Partners lifted its position in shares of Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock worth $512,627,000 after buying an additional 2,134,893 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 1,268,825 shares during the last quarter. Finally, Castle Hook Partners LP lifted its position in shares of Allstate by 1,303.3% during the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider’s stock worth $159,021,000 after buying an additional 766,058 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Trading Up 0.3%

Shares of ALL stock opened at $203.85 on Thursday. The stock has a market cap of $53.72 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 0.82 and a beta of 0.35. The stock has a 50-day moving average of $199.48 and a 200-day moving average of $199.24. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $214.76.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate’s dividend payout ratio is presently 18.81%.

Analysts Set New Price Targets

Several analysts recently weighed in on ALL shares. Evercore ISI upped their price objective on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. William Blair assumed coverage on Allstate in a report on Friday, June 6th. They issued a “sector outperform” rating for the company. Jefferies Financial Group upped their target price on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods upped their target price on Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $230.73.

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.