Lord Abbett & CO. LLC Reduces Holdings in Allstate Corp (ALL)

Lord Abbett & CO. LLC lessened its stake in shares of Allstate Corp (NYSE:ALL) by 99.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,900 shares of the insurance provider’s stock after selling 1,963,603 shares during the period. Lord Abbett & CO. LLC’s holdings in Allstate were worth $1,602,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearwater Capital Advisors LLC bought a new position in shares of Allstate during the 1st quarter valued at about $122,000. Prentiss Smith & Co. Inc. bought a new position in shares of Allstate during the 4th quarter valued at about $143,000. Archford Capital Strategies LLC bought a new position in shares of Allstate during the 1st quarter valued at about $158,000. Truewealth LLC bought a new position in shares of Allstate during the 4th quarter valued at about $159,000. Finally, Cypress Capital Management LLC WY bought a new position in shares of Allstate during the 1st quarter valued at about $176,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Allstate opened at $92.24 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. Allstate Corp has a 1-year low of $85.59 and a 1-year high of $105.36. The stock has a market capitalization of $32.42 billion, a P/E ratio of 11.49, a PEG ratio of 1.25 and a beta of 0.93.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Tuesday, May 1st. The insurance provider reported $2.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.61 by $0.35. Allstate had a net margin of 8.93% and a return on equity of 14.56%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same period in the prior year, the company posted $1.64 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. sell-side analysts expect that Allstate Corp will post 8.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Thursday, May 31st will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, May 30th. Allstate’s dividend payout ratio (DPR) is currently 27.42%.

ALL has been the subject of several research reports. Citigroup dropped their price objective on shares of Allstate from $112.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 10th. Argus upped their target price on shares of Allstate from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 9th. Zacks Investment Research upgraded shares of Allstate from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Monday, May 7th. Wells Fargo & Co restated a “hold” rating on shares of Allstate in a research report on Thursday, May 17th. Finally, Keefe, Bruyette & Woods upgraded shares of Allstate from an “underperform” rating to a “market perform” rating and upped their target price for the company from $90.00 to $93.00 in a research report on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $101.46.

About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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