Carret Asset Management LLC Sells 1,237 Shares of The Allstate Co. (NYSE:ALL)

Carret Asset Management LLC trimmed its stake in The Allstate Co. (NYSE:ALL) by 2.7% during the 1st quarter, Holdings Channel reports. The firm owned 44,292 shares of the insurance provider’s stock after selling 1,237 shares during the quarter. Allstate comprises approximately 0.9% of Carret Asset Management LLC’s portfolio, making the stock its 28th biggest holding. Carret Asset Management LLC’s holdings in Allstate were worth $7,663,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Gradient Investments LLC grew its position in shares of Allstate by 1.6% during the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after purchasing an additional 66 shares in the last quarter. Brighton Jones LLC increased its stake in Allstate by 1.9% in the 4th quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after acquiring an additional 71 shares during the last quarter. SVB Wealth LLC raised its holdings in shares of Allstate by 1.2% during the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after acquiring an additional 72 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock valued at $754,000 after acquiring an additional 82 shares during the last quarter. Finally, St. Johns Investment Management Company LLC grew its holdings in shares of Allstate by 2.2% in the fourth quarter. St. Johns Investment Management Company LLC now owns 3,955 shares of the insurance provider’s stock valued at $554,000 after purchasing an additional 85 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Trading Down 0.5 %

Shares of Allstate stock traded down $0.74 on Wednesday, hitting $159.44. 684,276 shares of the company traded hands, compared to its average volume of 1,589,958. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a market cap of $42.08 billion, a PE ratio of 35.33, a PEG ratio of 1.88 and a beta of 0.48. The stock’s 50 day moving average price is $165.27 and its 200-day moving average price is $160.48. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion during 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 period in the prior year, the business earned ($1.30) EPS. Equities research analysts predict that The Allstate Co. will post 12.15 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, May 31st were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Friday, May 31st. Allstate’s dividend payout ratio (DPR) is 81.24%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ALL shares. Morgan Stanley increased their price objective on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. 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 report on Monday, March 25th. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and upped their price objective for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. Roth Mkm lifted their target price on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Evercore ISI increased their price target on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.88.

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.