Groupama Asset Managment Sells 5,223 Shares of The Allstate Corporation $ALL

Groupama Asset Managment trimmed its position in shares of The Allstate Corporation (NYSE:ALL) by 39.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,096 shares of the insurance provider’s stock after selling 5,223 shares during the quarter. Groupama Asset Managment’s holdings in Allstate were worth $1,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its position in shares of Allstate by 30.3% during the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock worth $2,352,000 after purchasing an additional 2,643 shares in the last quarter. Richard Bernstein Advisors LLC acquired a new position in shares of Allstate during the first quarter worth approximately $3,341,000. Atlas Capital Advisors Inc. lifted its position in shares of Allstate by 197.3% during the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock worth $1,390,000 after purchasing an additional 4,454 shares in the last quarter. Dock Street Asset Management Inc. acquired a new position in shares of Allstate during the first quarter worth approximately $207,000. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Allstate by 5.5% during the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider’s stock worth $11,906,000 after purchasing an additional 2,981 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 1.5%

Shares of NYSE ALL opened at $213.4930 on Thursday. The company’s 50 day simple moving average is $198.91 and its 200 day simple moving average is $198.81. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $214.76. The firm has a market capitalization of $56.26 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.86 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last announced its quarterly earnings data 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 net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same period in the prior year, the business posted $1.61 earnings per share. Allstate’s revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate’s dividend payout ratio is presently 18.81%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALL. Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 target price (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the stock an “equal weight” rating in a research report on Tuesday, August 5th. UBS Group upped their target price on shares of Allstate from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Finally, Evercore ISI increased their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.