Tiemann Investment Advisors LLC Reduces Position in The Allstate Corporation $ALL

Tiemann Investment Advisors LLC trimmed its position in The Allstate Corporation (NYSE:ALL) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,595 shares of the insurance provider’s stock after selling 175 shares during the quarter. Tiemann Investment Advisors LLC’s holdings in Allstate were worth $1,573,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Allstate by 0.5% in the first quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider’s stock valued at $6,791,914,000 after buying an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Allstate by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock worth $2,424,710,000 after acquiring an additional 2,374,684 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Allstate by 157.9% in the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares during the last quarter. GQG Partners LLC increased its holdings in shares of Allstate by 2.1% in the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider’s stock valued at $912,288,000 after acquiring an additional 89,185 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Allstate by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider’s stock worth $673,997,000 after acquiring an additional 477,221 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Evercore ISI upped their price target on Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. BMO Capital Markets upped their target price on shares of Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday. Raymond James Financial restated a “strong-buy” rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Barclays reiterated an “underweight” rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $230.73.

Allstate Stock Performance

Shares of ALL opened at $213.4930 on Thursday. The company’s 50 day simple moving average is $198.91 and its 200-day simple moving average is $198.81. The firm has a market cap of $56.26 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.86 and a beta of 0.35. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 EPS. As a group, equities analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate’s dividend payout ratio is 18.81%.

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.