Eastern Bank Sells 157 Shares of The Allstate Corporation $ALL

Eastern Bank decreased its holdings in The Allstate Corporation (NYSE:ALL) by 3.9% in the second quarter, Holdings Channel reports. The firm owned 3,920 shares of the insurance provider’s stock after selling 157 shares during the quarter. Eastern Bank’s holdings in Allstate were worth $789,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sequoia Financial Advisors LLC increased its holdings in shares of Allstate by 30.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock worth $2,352,000 after purchasing an additional 2,643 shares in the last quarter. Atlas Capital Advisors Inc. increased its holdings in shares of Allstate by 197.3% in the 1st quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock worth $1,390,000 after purchasing an additional 4,454 shares in the last quarter. Richard Bernstein Advisors LLC bought a new stake in shares of Allstate in the 1st quarter worth $3,341,000. Dock Street Asset Management Inc. bought a new stake in shares of Allstate in the first quarter worth $207,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Allstate in the first quarter worth $22,405,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALL. Morgan Stanley lifted their price objective on Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. UBS Group lifted their price objective on Allstate from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a report on Tuesday, August 5th. BMO Capital Markets lifted 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. Finally, Barclays reaffirmed an “underweight” rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $234.50.

Allstate Price Performance

NYSE ALL opened at $205.59 on Friday. The company has a market capitalization of $54.18 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.79 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The business’s fifty day moving average is $206.06 and its 200 day moving average is $201.07. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70.

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

Allstate Dividend Announcement

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

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.