F&V Capital Management LLC Has $18.68 Million Stock Position in The Allstate Co. (NYSE:ALL)

F&V Capital Management LLC decreased its stake in shares of The Allstate Co. (NYSE:ALL) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,229 shares of the insurance provider’s stock after selling 1,735 shares during the quarter. Allstate makes up 4.8% of F&V Capital Management LLC’s portfolio, making the stock its 4th largest position. F&V Capital Management LLC’s holdings in Allstate were worth $18,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Brighton Jones LLC raised its stake in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after acquiring an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Allstate during the 4th quarter worth approximately $231,000. Stenger Family Office LLC bought a new position in shares of Allstate during the 4th quarter worth approximately $439,000. Stonebridge Financial Group LLC bought a new position in shares of Allstate during the 4th quarter worth approximately $53,000. Finally, Portfolio Design Labs LLC bought a new position in shares of Allstate during the 4th quarter worth approximately $266,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 2.2%

ALL opened at $200.44 on Friday. The firm’s 50-day simple moving average is $199.90 and its 200-day simple moving average is $197.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $213.18. The firm has a market cap of $53.08 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.01 and a beta of 0.35.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. During the same period in the previous year, the company posted $5.13 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate announced that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, June 9th. Allstate’s dividend payout ratio is currently 27.32%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. William Blair assumed coverage on shares of Allstate in a research report on Friday, June 6th. They set a “sector outperform” rating on the stock. Evercore ISI increased their price objective on shares of Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

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.