Riverhead Capital Management LLC decreased its position in Allstate Corp (NYSE:ALL) by 47.2% during the 1st quarter, Holdings Channel reports. The firm owned 89,618 shares of the insurance provider’s stock after selling 80,020 shares during the period. Riverhead Capital Management LLC’s holdings in Allstate were worth $8,440,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Banco Santander S.A. raised its holdings in Allstate by 1.0% during the 4th quarter. Banco Santander S.A. now owns 11,803 shares of the insurance provider’s stock valued at $975,000 after acquiring an additional 116 shares during the period. JOYN Advisors Inc. raised its holdings in Allstate by 23.9% during the 4th quarter. JOYN Advisors Inc. now owns 715 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 138 shares during the period. First National Trust Co raised its holdings in Allstate by 5.7% during the 1st quarter. First National Trust Co now owns 2,626 shares of the insurance provider’s stock valued at $248,000 after acquiring an additional 142 shares during the period. Manning & Napier Group LLC raised its holdings in Allstate by 2.0% during the 1st quarter. Manning & Napier Group LLC now owns 7,245 shares of the insurance provider’s stock valued at $681,000 after acquiring an additional 145 shares during the period. Finally, First Capital Advisors Group LLC. raised its holdings in Allstate by 4.6% during the 4th quarter. First Capital Advisors Group LLC. now owns 3,375 shares of the insurance provider’s stock valued at $279,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 77.46% of the company’s stock.
A number of equities research analysts have issued reports on the stock. UBS Group boosted their target price on shares of Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Morgan Stanley boosted their target price on shares of Allstate from $94.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, May 21st. Goldman Sachs Group raised shares of Allstate from a “neutral” rating to a “buy” rating and upped their price target for the stock from $106.00 to $110.00 in a report on Wednesday, May 29th. Credit Suisse Group cut shares of Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, April 8th. Finally, Zacks Investment Research cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $102.42.
Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.02. The firm had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Allstate had a net margin of 6.26% and a return on equity of 12.66%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.96 earnings per share. Sell-side analysts predict that Allstate Corp will post 8.99 earnings per share for the current year.
The company 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 $0.50 dividend. The ex-dividend date is Thursday, May 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.99%. Allstate’s payout ratio is currently 24.78%.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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