Congress Asset Management Co. MA Trims Position in The Allstate Co. (NYSE:ALL)

Congress Asset Management Co. MA trimmed its stake in The Allstate Co. (NYSE:ALL) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,422 shares of the insurance provider’s stock after selling 1,886 shares during the period. Congress Asset Management Co. MA’s holdings in Allstate were worth $15,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ALL. Envestnet Asset Management Inc. increased its holdings in Allstate by 9.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 271,032 shares of the insurance provider’s stock worth $30,196,000 after purchasing an additional 23,926 shares during the period. FMR LLC raised its holdings in shares of Allstate by 9.6% in the third quarter. FMR LLC now owns 517,374 shares of the insurance provider’s stock valued at $57,641,000 after acquiring an additional 45,363 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Allstate by 115.9% in the third quarter. Acadian Asset Management LLC now owns 4,714 shares of the insurance provider’s stock valued at $524,000 after acquiring an additional 2,531 shares in the last quarter. LPL Financial LLC lifted its stake in Allstate by 4.1% in the third quarter. LPL Financial LLC now owns 181,312 shares of the insurance provider’s stock worth $20,200,000 after acquiring an additional 7,094 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its holdings in Allstate by 35.0% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,467 shares of the insurance provider’s stock worth $943,000 after acquiring an additional 2,194 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Allstate Price Performance

Shares of ALL opened at $160.51 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The company’s fifty day moving average price is $166.53 and its 200-day moving average price is $159.39. The firm has a market capitalization of $42.36 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 1.55 and a beta of 0.50. The Allstate Co. has a 1-year low of $100.57 and a 1-year high of $177.37.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period in the prior year, the company earned ($1.30) earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts predict that The Allstate Co. will post 14.99 EPS for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be given a $0.92 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.29%. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALL shares. The Goldman Sachs Group upped their price target on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. HSBC raised Allstate from a “hold” rating to a “buy” rating and increased their target price for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. Evercore ISI upped their price objective on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Roth Mkm raised their price objective on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.88.

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.