The Allstate Corporation (NYSE:ALL) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC decreased its position in shares of The Allstate Corporation (NYSE:ALL) by 38.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 317,353 shares of the insurance provider’s stock after selling 195,165 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Allstate were worth $65,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of ALL. Rehmann Capital Advisory Group raised its position in Allstate by 3.2% in the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after purchasing an additional 51 shares during the period. Vantage Point Financial LLC increased its position in shares of Allstate by 3.6% during the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 52 shares during the last quarter. Confluence Wealth Services Inc. boosted its stake in Allstate by 0.7% during the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock worth $1,558,000 after buying an additional 54 shares during the period. Linscomb Wealth Inc. boosted its stake in Allstate by 1.3% during the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after buying an additional 54 shares during the period. Finally, Achmea Investment Management B.V. increased its holdings in Allstate by 0.3% in the 1st quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider’s stock valued at $4,262,000 after purchasing an additional 57 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Up 1.1%

NYSE ALL opened at $208.95 on Thursday. The Allstate Corporation has a one year low of $175.76 and a one year high of $213.18. The firm has a market cap of $55.06 billion, a PE ratio of 9.82, a price-to-earnings-growth 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. The stock’s 50 day simple moving average is $198.14 and its 200 day simple moving average is $198.23.

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

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend 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 Analysts Forecast Growth

ALL has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Jefferies Financial Group lifted their target price on shares of Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a report on Monday. UBS Group upped their price target on Allstate from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, Cantor Fitzgerald initiated coverage on Allstate in a report on Tuesday. They issued a “neutral” rating and a $202.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $227.50.

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.