Meiji Yasuda Life Insurance Co cut its holdings in Allstate Corp (NYSE:ALL) by 17.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,678 shares of the insurance provider’s stock after selling 2,422 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Allstate were worth $1,100,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Strategy Asset Managers LLC purchased a new stake in shares of Allstate in the 1st quarter worth about $25,000. 1 North Wealth Services LLC purchased a new stake in Allstate during the 4th quarter valued at about $25,000. Legacy Advisors LLC purchased a new stake in Allstate during the 1st quarter valued at about $29,000. Enterprise Financial Services Corp grew its position in Allstate by 85.1% during the 1st quarter. Enterprise Financial Services Corp now owns 385 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 177 shares during the last quarter. Finally, Executive Wealth Management LLC purchased a new stake in Allstate during the 4th quarter valued at about $32,000. 77.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE ALL traded up $0.09 during trading on Wednesday, reaching $100.52. 29,128 shares of the company traded hands, compared to its average volume of 2,019,571. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $33.63 billion, a PE ratio of 12.47, a PEG ratio of 1.34 and a beta of 0.81. Allstate Corp has a 52-week low of $77.00 and a 52-week high of $102.73.
The business 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 $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 30th. Allstate’s payout ratio is presently 24.78%.
Several analysts recently commented on ALL shares. Wells Fargo & Co reissued a “hold” rating and set a $94.00 price objective on shares of Allstate in a research report on Tuesday, March 12th. Morgan Stanley increased their price objective on shares of Allstate from $94.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 21st. Zacks Investment Research downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. UBS Group increased their price objective on shares of Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Goldman Sachs Group raised shares of Allstate from a “neutral” rating to a “buy” rating and increased their price objective for the company from $106.00 to $110.00 in a research report on Wednesday, May 29th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $102.42.
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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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