Axecap Investments LLC Sells 4,862 Shares of The Allstate Co. (NYSE:ALL)

Axecap Investments LLC decreased its holdings in shares of The Allstate Co. (NYSE:ALL) by 25.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,017 shares of the insurance provider’s stock after selling 4,862 shares during the quarter. Allstate accounts for about 2.5% of Axecap Investments LLC’s investment portfolio, making the stock its 15th biggest position. Axecap Investments LLC’s holdings in Allstate were worth $2,902,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ALL. Brighton Jones LLC grew its stake in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Allstate in the fourth quarter worth approximately $231,000. Stenger Family Office LLC bought a new position in Allstate in the fourth quarter worth approximately $439,000. Savant Capital LLC grew its stake in Allstate by 5.9% in the fourth quarter. Savant Capital LLC now owns 17,567 shares of the insurance provider’s stock worth $3,387,000 after purchasing an additional 971 shares in the last quarter. Finally, Sapient Capital LLC grew its stake in Allstate by 1.6% in the fourth quarter. Sapient Capital LLC now owns 4,543 shares of the insurance provider’s stock worth $880,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. William Blair assumed coverage on Allstate in a research note on Friday, June 6th. They issued a “sector outperform” rating on the stock. Keefe, Bruyette & Woods increased their price objective on Allstate from $228.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Morgan Stanley increased their price objective on Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. Finally, Raymond James restated a “strong-buy” rating and set a $250.00 target price (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.20.

Allstate Stock Performance

Shares of ALL opened at $196.13 on Thursday. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $213.18. The stock has a fifty day moving average price of $199.50 and a 200-day moving average price of $197.09. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a market cap of $51.94 billion, a PE ratio of 11.54, a P/E/G ratio of 1.01 and a beta of 0.35.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (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 firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same period in the previous year, the company earned $5.13 earnings per share. Allstate’s revenue was up 7.8% on a year-over-year basis. Equities research analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared 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. This represents a $4.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, June 9th. Allstate’s dividend payout ratio is currently 27.32%.

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

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.