The Allstate Co. (NYSE:ALL) Shares Sold by Banque Cantonale Vaudoise

Posted by Grant Hamersma on May 26th, 2023

Banque Cantonale Vaudoise trimmed its position in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 37.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,200 shares of the insurance provider’s stock after selling 3,100 shares during the period. Banque Cantonale Vaudoise’s holdings in Allstate were worth $705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Accurate Wealth Management LLC bought a new stake in shares of Allstate during the 4th quarter worth about $27,000. Cowa LLC bought a new stake in shares of Allstate during the 1st quarter worth about $30,000. Standard Family Office LLC bought a new stake in shares of Allstate during the 3rd quarter worth about $37,000. CI Investments Inc. raised its position in shares of Allstate by 981.8% during the 3rd quarter. CI Investments Inc. now owns 357 shares of the insurance provider’s stock worth $44,000 after buying an additional 324 shares in the last quarter. Finally, New England Capital Financial Advisors LLC bought a new stake in shares of Allstate during the 4th quarter worth about $46,000. 77.48% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of ALL opened at $111.04 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.55. The Allstate Co. has a 52 week low of $103.20 and a 52 week high of $142.15. The company’s 50 day moving average price is $113.98 and its 200 day moving average price is $125.37.

Allstate (NYSE:ALL – Get Rating) last posted its earnings results on Thursday, May 4th. The insurance provider reported ($1.30) EPS for the quarter, topping the consensus estimate of ($1.94) by $0.64. The company had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $13.68 billion. Allstate had a negative net margin of 4.33% and a negative return on equity of 7.77%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 earnings per share. As a group, sell-side analysts forecast that The Allstate Co. will post 3.36 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 3.21%. The ex-dividend date is Thursday, June 1st. Allstate’s dividend payout ratio is -40.14%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler boosted their price target on shares of Allstate from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 4th. William Blair upgraded shares of Allstate from a “market perform” rating to an “outperform” rating in a report on Monday, April 3rd. Bank of America boosted their target price on shares of Allstate from $146.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, May 18th. Roth Capital reiterated a “buy” rating on shares of Allstate in a report on Thursday, February 2nd. Finally, Evercore ISI dropped their target price on shares of Allstate from $138.00 to $132.00 and set an “in-line” rating on the stock in a report on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $141.31.

About Allstate

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The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.