IFP Advisors Inc Trims Holdings in The Allstate Co. (NYSE:ALL)

IFP Advisors Inc decreased its position in shares of The Allstate Co. (NYSE:ALL) by 34.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,211 shares of the insurance provider’s stock after selling 639 shares during the period. IFP Advisors Inc’s holdings in Allstate were worth $155,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wagner Wealth Management LLC purchased a new position in shares of Allstate during the 2nd quarter worth approximately $31,000. Eagle Bay Advisors LLC purchased a new position in shares of Allstate during the 2nd quarter worth approximately $32,000. Heritage Wealth Management LLC grew its holdings in shares of Allstate by 88.9% during the 2nd quarter. Heritage Wealth Management LLC now owns 255 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 120 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Allstate during the 2nd quarter worth approximately $35,000. Finally, Trustcore Financial Services LLC grew its holdings in shares of Allstate by 150.5% during the 2nd quarter. Trustcore Financial Services LLC now owns 273 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 75.07% of the company’s stock.

ALL has been the topic of several recent research reports. Morgan Stanley cut their price target on Allstate from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Friday, October 15th. Barclays downgraded Allstate from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $147.00 to $123.00 in a research note on Wednesday, November 10th. Wolfe Research initiated coverage on Allstate in a research note on Monday, August 16th. They issued a “peer perform” rating and a $130.00 price target on the stock. Jefferies Financial Group initiated coverage on Allstate in a research note on Thursday, November 18th. They issued a “hold” rating and a $121.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on Allstate from $154.00 to $148.00 and set an “overweight” rating on the stock in a research note on Thursday, November 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $134.21.

NYSE ALL opened at $114.70 on Thursday. The business’s fifty day moving average price is $123.81 and its 200-day moving average price is $129.79. The stock has a market capitalization of $32.88 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.10 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.47 and a quick ratio of 0.47. The Allstate Co. has a 1-year low of $102.15 and a 1-year high of $140.00.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 3rd. The insurance provider reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.89). Allstate had a net margin of 6.87% and a return on equity of 19.68%. During the same period in the prior year, the firm earned $2.94 EPS. Equities research analysts anticipate that The Allstate Co. will post 13.54 EPS for the current year.

Allstate declared that its board has authorized a stock repurchase plan on Wednesday, August 4th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 13% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Stockholders of record on Tuesday, November 30th will be issued a dividend of $0.81 per share. The ex-dividend date is Monday, November 29th. This represents a $3.24 annualized dividend and a dividend yield of 2.82%. Allstate’s payout ratio is 29.94%.

About Allstate

The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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