Courier Capital LLC Decreases Holdings in The Allstate Co. (NYSE:ALL)

Courier Capital LLC trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,612 shares of the insurance provider’s stock after selling 368 shares during the period. Courier Capital LLC’s holdings in Allstate were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC purchased a new stake in Allstate during the 1st quarter worth $383,000. 180 Wealth Advisors LLC boosted its position in Allstate by 25.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,762 shares of the insurance provider’s stock valued at $305,000 after buying an additional 355 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Allstate by 4.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,023 shares of the insurance provider’s stock valued at $11,769,000 after buying an additional 2,940 shares during the last quarter. Corundum Group Inc. purchased a new position in Allstate in the 1st quarter valued at about $212,000. Finally, St. Johns Investment Management Company LLC boosted its position in Allstate by 6.8% in the 1st quarter. St. Johns Investment Management Company LLC now owns 4,222 shares of the insurance provider’s stock valued at $730,000 after buying an additional 267 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $194.00 price objective on shares of Allstate in a research report on Friday, June 21st. The Goldman Sachs Group lifted their price target on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. Morgan Stanley lifted their price target on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company lifted their price target on Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.88.

Allstate Stock Performance

Shares of NYSE ALL opened at $159.66 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $165.87 and its two-hundred day moving average price is $159.96. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $177.37. The stock has a market capitalization of $42.14 billion, a P/E ratio of 35.25, a P/E/G ratio of 1.86 and a beta of 0.50.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.30) earnings per share. As a group, sell-side analysts forecast that The Allstate Co. will post 12.15 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.30%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

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.