Coastal Bridge Advisors LLC Sells 198 Shares of The Allstate Co. (NYSE:ALL)

Coastal Bridge Advisors LLC lowered its holdings in shares of The Allstate Co. (NYSE:ALL) by 8.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,163 shares of the insurance provider’s stock after selling 198 shares during the period. Coastal Bridge Advisors LLC’s holdings in Allstate were worth $417,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. VSM Wealth Advisory LLC acquired a new position in Allstate during the 4th quarter worth about $25,000. Twin Tree Management LP bought a new stake in Allstate in the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC acquired a new stake in Allstate during the 4th quarter valued at approximately $29,000. Hopwood Financial Services Inc. acquired a new position in shares of Allstate in the 4th quarter worth approximately $29,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Allstate during the fourth quarter worth $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE ALL opened at $204.18 on Thursday. The company has a market capitalization of $54.07 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. 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 52-week low of $156.66 and a 52-week high of $212.91. The company has a 50-day simple moving average of $198.98 and a 200 day simple moving average of $195.02.

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

Allstate announced that its board has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date was Monday, March 10th. Allstate’s payout ratio is presently 27.32%.

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

ALL has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Raymond James reissued a “strong-buy” rating and issued a $250.00 price target (up from $240.00) on shares of Allstate in a research note on Monday. Evercore ISI raised their price objective on shares of Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, Barclays decreased their price target on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.20.

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.