Butensky & Cohen Financial Security Inc. Trims Stock Position in The Allstate Corporation $ALL

Butensky & Cohen Financial Security Inc. lessened its position in The Allstate Corporation (NYSE:ALL) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,675 shares of the insurance provider’s stock after selling 377 shares during the period. Allstate comprises 1.7% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 16th largest holding. Butensky & Cohen Financial Security Inc.’s holdings in Allstate were worth $5,571,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC raised its position in shares of Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock valued at $2,352,000 after buying an additional 2,643 shares during the last quarter. Atlas Capital Advisors Inc. raised its position in shares of Allstate by 197.3% in the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock valued at $1,390,000 after buying an additional 4,454 shares during the last quarter. Richard Bernstein Advisors LLC acquired a new position in shares of Allstate in the first quarter valued at approximately $3,341,000. Dock Street Asset Management Inc. acquired a new position in shares of Allstate in the first quarter valued at approximately $207,000. Finally, First Citizens Bank & Trust Co. raised its position in shares of Allstate by 5.5% in the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider’s stock valued at $11,906,000 after buying an additional 2,981 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALL. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Morgan Stanley upped their price target on shares of Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Jefferies Financial Group upped their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. BMO Capital Markets upped their price target on shares of Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Finally, William Blair assumed coverage on shares of Allstate in a research report on Friday, June 6th. They set a “sector outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $231.47.

Allstate Price Performance

Shares of ALL stock opened at $205.99 on Friday. The company has a market capitalization of $54.28 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37. The firm has a fifty day simple moving average of $201.63 and a 200-day simple moving average of $200.50. 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 twelve month low of $176.00 and a twelve month high of $214.76.

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, topping 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 company had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period last year, the business earned $1.61 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

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

About Allstate

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.