Allen Mooney & Barnes Investment Advisors LLC Cuts Position in The Allstate Co. (NYSE:ALL)

Allen Mooney & Barnes Investment Advisors LLC cut its stake in The Allstate Co. (NYSE:ALL) by 10.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,979 shares of the insurance provider’s stock after selling 219 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Allstate were worth $328,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Global Assets Advisory LLC bought a new stake in Allstate in the first quarter worth $5,583,000. CHICAGO TRUST Co NA lifted its stake in Allstate by 16.0% in the first quarter. CHICAGO TRUST Co NA now owns 3,932 shares of the insurance provider’s stock worth $680,000 after purchasing an additional 542 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Allstate in the first quarter worth $26,000. Ballentine Partners LLC lifted its stake in Allstate by 2.1% in the first quarter. Ballentine Partners LLC now owns 12,549 shares of the insurance provider’s stock worth $2,171,000 after purchasing an additional 253 shares during the last quarter. Finally, Meyer Handelman Co. lifted its stake in Allstate by 14.3% in the first quarter. Meyer Handelman Co. now owns 165,925 shares of the insurance provider’s stock worth $28,707,000 after purchasing an additional 20,813 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALL has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. The Goldman Sachs Group upped their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Piper Sandler upped their price objective on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $194.00 price objective on shares of Allstate in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.88.

Allstate Price Performance

Shares of ALL opened at $162.41 on Tuesday. The stock has a market cap of $42.86 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 1.65 and a beta of 0.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The firm’s 50-day simple moving average is $166.46 and its two-hundred day simple moving average is $159.70.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.30) earnings per share. Analysts anticipate that The Allstate Co. will post 13.91 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 2.27%. Allstate’s payout ratio is 81.24%.

Allstate 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.