Patton Albertson Miller Group LLC Reduces Stock Position in The Allstate Corporation (NYSE:ALL)

Patton Albertson Miller Group LLC lessened its position in shares of The Allstate Corporation (NYSE:ALL) by 31.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,614 shares of the insurance provider’s stock after selling 12,081 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Allstate were worth $5,511,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ALL. Bank of America Corp DE grew its stake in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares during the last quarter. Norges Bank purchased a new stake in shares of Allstate in the fourth quarter worth about $344,354,000. GQG Partners LLC boosted its stake in shares of Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock worth $832,181,000 after buying an additional 1,685,694 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider’s stock worth $263,785,000 after buying an additional 1,268,825 shares during the last quarter. Finally, Castle Hook Partners LP boosted its stake in shares of Allstate by 1,303.3% in the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider’s stock worth $159,021,000 after buying an additional 766,058 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of Allstate stock opened at $193.15 on Friday. The business has a 50 day simple moving average of $200.35 and a two-hundred day simple moving average of $196.66. The Allstate Corporation has a 12 month low of $162.27 and a 12 month high of $213.18. The stock has a market capitalization of $51.15 billion, a P/E ratio of 13.19, a PEG ratio of 1.01 and a beta of 0.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same period in the previous year, the company earned $5.13 EPS. Allstate’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.07%. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ALL shares. JPMorgan Chase & Co. upped their target price on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. Evercore ISI upped their target price on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Barclays upped their target price on Allstate from $172.00 to $188.00 and gave the stock an “underweight” rating in a research note on Monday, July 7th. William Blair started coverage on Allstate in a research note on Friday, June 6th. They issued a “sector outperform” rating on the stock. Finally, Wells Fargo & Company reduced their price target on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.07.

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.