Peddock Capital Advisors LLC decreased its position in Allstate Corp (NYSE:ALL) by 2.0% in the first quarter, Holdings Channel reports. The fund owned 13,461 shares of the insurance provider’s stock after selling 271 shares during the period. Allstate comprises approximately 0.7% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Peddock Capital Advisors LLC’s holdings in Allstate were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the stock. Boston Partners raised its stake in Allstate by 17.1% in the 1st quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock worth $1,045,965,000 after acquiring an additional 1,620,871 shares during the last quarter. Macquarie Group Ltd. raised its stake in Allstate by 6.3% in the 4th quarter. Macquarie Group Ltd. now owns 7,852,608 shares of the insurance provider’s stock worth $648,861,000 after acquiring an additional 468,725 shares during the last quarter. Northern Trust Corp raised its stake in Allstate by 2.1% in the 4th quarter. Northern Trust Corp now owns 6,681,038 shares of the insurance provider’s stock worth $552,054,000 after acquiring an additional 135,679 shares during the last quarter. LSV Asset Management raised its stake in Allstate by 3.6% in the 1st quarter. LSV Asset Management now owns 5,854,851 shares of the insurance provider’s stock worth $551,409,000 after acquiring an additional 204,500 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Allstate by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock worth $390,468,000 after acquiring an additional 391,869 shares during the last quarter. Institutional investors own 77.46% of the company’s stock.
Shares of NYSE ALL traded up $0.51 during trading on Thursday, reaching $101.12. 29,040 shares of the company traded hands, compared to its average volume of 1,602,611. The firm has a market capitalization of $33.50 billion, a P/E ratio of 12.53, a PEG ratio of 1.34 and a beta of 0.81. Allstate Corp has a 12-month low of $77.00 and a 12-month 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.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.02. Allstate had a return on equity of 12.66% and a net margin of 6.26%. The firm had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the previous year, the business earned $2.96 EPS. Allstate’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Allstate Corp will post 8.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.98%. Allstate’s dividend payout ratio is presently 24.78%.
A number of equities analysts recently issued reports on the company. Goldman Sachs Group upgraded Allstate from a “neutral” rating to a “buy” rating and raised their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, May 29th. Morgan Stanley raised their target price on Allstate from $94.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 21st. UBS Group lifted their price objective on Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Credit Suisse Group lowered Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research note on Monday, April 8th. Finally, Zacks Investment Research lowered Allstate from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $102.42.
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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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