Boltwood Capital Management Decreases Position in The Allstate Co. (NYSE:ALL)

Boltwood Capital Management trimmed its holdings in The Allstate Co. (NYSE:ALL) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,397 shares of the insurance provider’s stock after selling 313 shares during the period. Boltwood Capital Management’s holdings in Allstate were worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ALL. Bank of America Corp DE lifted its holdings in shares of Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock worth $1,270,705,000 after acquiring an additional 4,035,629 shares during the last quarter. Norges Bank purchased a new position in Allstate in the 4th quarter worth $344,354,000. GQG Partners LLC raised its position in Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock worth $832,181,000 after purchasing an additional 1,685,694 shares during the period. GAMMA Investing LLC raised its position in Allstate by 25,026.1% in the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider’s stock worth $263,785,000 after purchasing an additional 1,268,825 shares during the period. Finally, Strategic Financial Concepts LLC raised its position in Allstate by 15,062.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock worth $215,757,000 after purchasing an additional 1,111,748 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ALL. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. BMO Capital Markets restated an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. Evercore ISI boosted their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley boosted their price objective on shares of Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.20.

Allstate Price Performance

Shares of NYSE:ALL opened at $206.96 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The firm has a fifty day moving average price of $199.59 and a 200 day moving average price of $197.04. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $213.18. The firm has a market cap of $54.81 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter last year, the business earned $5.13 EPS. Allstate’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 annualized dividend and a yield of 1.93%. Allstate’s dividend payout ratio (DPR) is currently 27.32%.

Allstate announced that its board has initiated a stock buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Allstate Company 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.