Cadence Bank NA Decreases Position in Allstate Corp (ALL)

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Cadence Bank NA reduced its stake in Allstate Corp (NYSE:ALL) by 3.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,237 shares of the insurance provider’s stock after selling 362 shares during the period. Cadence Bank NA’s holdings in Allstate were worth $1,058,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ALL. Synovus Financial Corp increased its stake in shares of Allstate by 14.3% during the first quarter. Synovus Financial Corp now owns 3,305 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 414 shares in the last quarter. Wesbanco Bank Inc. increased its stake in shares of Allstate by 7.1% during the first quarter. Wesbanco Bank Inc. now owns 11,767 shares of the insurance provider’s stock valued at $1,108,000 after purchasing an additional 777 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Allstate by 12.1% during the first quarter. Acadian Asset Management LLC now owns 2,447 shares of the insurance provider’s stock valued at $231,000 after purchasing an additional 264 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Allstate by 3.9% during the first quarter. Parametric Portfolio Associates LLC now owns 1,472,514 shares of the insurance provider’s stock valued at $138,681,000 after purchasing an additional 55,449 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Allstate by 15.9% during the first quarter. First Trust Advisors LP now owns 1,019,487 shares of the insurance provider’s stock valued at $96,015,000 after purchasing an additional 139,584 shares in the last quarter. 77.46% of the stock is owned by institutional investors.

NYSE:ALL opened at $96.37 on Monday. Allstate Corp has a 52 week low of $77.00 and a 52 week high of $102.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $32.08 billion, a PE ratio of 11.94, a PEG ratio of 1.29 and a beta of 0.83.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.02. Allstate had a net margin of 6.26% and a return on equity of 12.66%. The firm had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the prior year, the company posted $2.96 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts predict that Allstate Corp will post 8.99 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, May 30th. Allstate’s payout ratio is 24.78%.

A number of equities analysts have weighed in on ALL shares. ValuEngine raised shares of Allstate from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. William Blair raised shares of Allstate from an “underperform” rating to a “market perform” rating in a research note on Wednesday, February 6th. Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Thursday, February 7th. Wells Fargo & Co reaffirmed a “hold” rating and set a $94.00 target price on shares of Allstate in a research note on Tuesday, March 12th. Finally, Credit Suisse Group downgraded shares of Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Allstate currently has an average rating of “Hold” and a consensus target price of $101.73.

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Allstate Company Profile

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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