Ferguson Wellman Capital Management Inc. Has $6.56 Million Position in The Allstate Co. (NYSE:ALL)

Ferguson Wellman Capital Management Inc. trimmed its position in The Allstate Co. (NYSE:ALL) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,683 shares of the insurance provider’s stock after selling 1,001 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Allstate were worth $6,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Alpha Omega Wealth Management LLC raised its holdings in Allstate by 1.5% in the first quarter. Alpha Omega Wealth Management LLC now owns 9,561 shares of the insurance provider’s stock worth $1,980,000 after purchasing an additional 138 shares during the period. Donaldson Capital Management LLC increased its position in shares of Allstate by 1.5% in the 1st quarter. Donaldson Capital Management LLC now owns 317,985 shares of the insurance provider’s stock valued at $65,845,000 after buying an additional 4,805 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in Allstate during the 1st quarter worth $267,000. Assenagon Asset Management S.A. lifted its holdings in Allstate by 67.0% during the first quarter. Assenagon Asset Management S.A. now owns 220,068 shares of the insurance provider’s stock worth $45,569,000 after acquiring an additional 88,276 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Allstate by 1,664.3% in the first quarter. SG Americas Securities LLC now owns 17,961 shares of the insurance provider’s stock valued at $3,719,000 after acquiring an additional 16,943 shares during the period. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Raymond James reaffirmed a “strong-buy” rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Argus raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Wells Fargo & Company reduced their price target on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. BMO Capital Markets reissued an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. Finally, Morgan Stanley boosted their price target on Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $225.20.

Allstate Stock Down 0.1%

Allstate stock opened at $196.13 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The company’s 50-day moving average is $199.50 and its 200-day moving average is $197.09. The firm has a market capitalization of $51.94 billion, a PE ratio of 11.54, a P/E/G ratio of 1.01 and a beta of 0.35. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $213.18.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.13 EPS. Sell-side analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be issued a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. Allstate’s dividend payout ratio is currently 27.32%.

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.