Segment Wealth Management LLC Sells 1,475 Shares of The Allstate Corporation $ALL

Segment Wealth Management LLC reduced its position in The Allstate Corporation (NYSE:ALL) by 1.7% during the second quarter, HoldingsChannel reports. The fund owned 85,617 shares of the insurance provider’s stock after selling 1,475 shares during the quarter. Allstate comprises 1.1% of Segment Wealth Management LLC’s holdings, making the stock its 26th biggest position. Segment Wealth Management LLC’s holdings in Allstate were worth $17,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. raised its stake in Allstate by 9.5% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 6,994 shares of the insurance provider’s stock valued at $1,408,000 after acquiring an additional 605 shares during the period. Ameritas Advisory Services LLC increased its position in shares of Allstate by 2.8% during the second quarter. Ameritas Advisory Services LLC now owns 10,484 shares of the insurance provider’s stock valued at $2,111,000 after buying an additional 287 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Allstate by 5.2% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,316 shares of the insurance provider’s stock valued at $3,687,000 after buying an additional 903 shares during the period. Ashton Thomas Securities LLC increased its position in shares of Allstate by 18.7% during the second quarter. Ashton Thomas Securities LLC now owns 2,827 shares of the insurance provider’s stock valued at $569,000 after buying an additional 446 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of Allstate during the second quarter valued at about $34,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Up 0.4%

Shares of ALL opened at $210.92 on Friday. The firm has a market cap of $55.58 billion, a P/E ratio of 9.92, a P/E/G ratio of 0.82 and a beta of 0.38. The stock has a 50 day simple moving average of $204.72 and a two-hundred day simple moving average of $201.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.70.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.Allstate’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 earnings per share. On average, analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALL. Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 price target (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Keefe, Bruyette & Woods upped their price target on Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. UBS Group upped their price target on Allstate from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Citigroup raised Allstate to a “hold” rating in a report on Wednesday, August 13th. Finally, BMO Capital Markets boosted their price objective on Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.56.

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.