Butensky & Cohen Financial Security Inc. Has $5.81 Million Position in The Allstate Co. (NYSE:ALL)

Butensky & Cohen Financial Security Inc. trimmed its stake in The Allstate Co. (NYSE:ALL) by 1.6% in the first quarter, Holdings Channel reports. The firm owned 28,052 shares of the insurance provider’s stock after selling 445 shares during the quarter. Allstate comprises approximately 1.8% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 9th biggest position. Butensky & Cohen Financial Security Inc.’s holdings in Allstate were worth $5,809,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Intrust Bank NA grew its stake in Allstate by 0.5% in the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock valued at $2,340,000 after purchasing an additional 61 shares in the last quarter. Angeles Wealth Management LLC grew its stake in Allstate by 4.6% in the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 62 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Allstate by 4.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock valued at $290,000 after purchasing an additional 63 shares in the last quarter. Empower Advisory Group LLC lifted its position in shares of Allstate by 5.3% in the fourth quarter. Empower Advisory Group LLC now owns 1,286 shares of the insurance provider’s stock valued at $248,000 after buying an additional 65 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in shares of Allstate by 28.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 302 shares of the insurance provider’s stock valued at $58,000 after buying an additional 66 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

NYSE:ALL opened at $208.10 on Friday. The stock has a market cap of $55.11 billion, a P/E ratio of 12.25, a PEG ratio of 1.01 and a beta of 0.35. The stock has a 50 day simple moving average of $199.59 and a 200 day simple moving average of $197.17. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $213.18.

Allstate (NYSE:ALL) last released its quarterly 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). The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $5.13 earnings per share. Research analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its board has approved a share buyback 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Allstate Announces Dividend

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 paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 1.92%. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays cut their price objective on Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research report on Friday, April 11th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. Argus raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Evercore ISI raised their price objective on Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Finally, William Blair assumed coverage on Allstate in a research report on Friday. They issued a “sector outperform” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.