The Allstate Corporation $ALL Shares Sold by Rainier Family Wealth Inc.

Rainier Family Wealth Inc. trimmed its holdings in shares of The Allstate Corporation (NYSE:ALL) by 24.4% during the first quarter, Holdings Channel reports. The firm owned 1,374 shares of the insurance provider’s stock after selling 444 shares during the quarter. Rainier Family Wealth Inc.’s holdings in Allstate were worth $285,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new stake in shares of Allstate during the first quarter worth $28,000. Meeder Asset Management Inc. increased its holdings in shares of Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 99 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in shares of Allstate in the 1st quarter worth about $43,000. Mattson Financial Services LLC acquired a new stake in shares of Allstate in the 4th quarter worth about $44,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Allstate in the 1st quarter worth about $51,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALL has been the topic of a number of analyst reports. William Blair initiated coverage on shares of Allstate in a report on Friday, June 6th. They issued a “sector outperform” rating on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price objective (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Jefferies Financial Group increased their price objective on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Cantor Fitzgerald raised shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Finally, Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.21.

Allstate Stock Performance

NYSE:ALL opened at $202.51 on Friday. The Allstate Corporation has a twelve month low of $176.00 and a twelve 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. The company has a 50-day moving average of $200.92 and a 200-day moving average of $200.30. The firm has a market cap of $53.36 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same quarter last year, the firm posted $1.61 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate’s dividend payout ratio (DPR) is presently 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.