Chevy Chase Trust Holdings LLC Trims Position in The Allstate Co. (NYSE:ALL)

Chevy Chase Trust Holdings LLC cut its position in shares of The Allstate Co. (NYSE:ALL) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,378 shares of the insurance provider’s stock after selling 803 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Allstate worth $25,152,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wellington Shields Capital Management LLC acquired a new stake in Allstate during the first quarter worth $208,000. GSA Capital Partners LLP acquired a new stake in shares of Allstate during the first quarter valued at about $566,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Allstate by 26.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,697 shares of the insurance provider’s stock valued at $813,000 after acquiring an additional 973 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Allstate in the 1st quarter worth approximately $988,000. Finally, Hudock Inc. purchased a new position in shares of Allstate during the 1st quarter worth approximately $202,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE ALL traded up $0.26 on Wednesday, hitting $158.98. 507,439 shares of the company’s stock were exchanged, compared to its average volume of 1,570,219. The firm has a market cap of $41.96 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 1.88 and a beta of 0.48. The firm’s 50-day moving average price is $164.10 and its two-hundred day moving average price is $161.25. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The firm had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. Allstate’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.30) earnings per share. On average, research analysts expect that The Allstate Co. will post 12.15 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, May 31st were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Friday, May 31st. Allstate’s dividend payout ratio is currently 81.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and raised their price target for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. Morgan Stanley lowered their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Piper Sandler upped their price objective on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Wells Fargo & Company lifted their target price on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average price target of $175.47.

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.