First Financial Corp IN Cuts Holdings in The Allstate Co. (NYSE:ALL)

First Financial Corp IN lessened its position in shares of The Allstate Co. (NYSE:ALL) by 53.1% in the first quarter, Holdings Channel.com reports. The fund owned 1,798 shares of the insurance provider’s stock after selling 2,038 shares during the quarter. First Financial Corp IN’s holdings in Allstate were worth $311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Vanguard Group Inc. increased its position in shares of Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after acquiring an additional 3,322,673 shares in the last quarter. Norges Bank acquired a new stake in Allstate in the 4th quarter valued at $212,771,000. Palestra Capital Management LLC purchased a new position in Allstate in the fourth quarter valued at about $83,561,000. Balyasny Asset Management L.P. acquired a new position in shares of Allstate during the fourth quarter worth about $81,571,000. Finally, Morgan Stanley boosted its position in shares of Allstate by 16.9% in the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock worth $412,396,000 after buying an additional 536,137 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $194.00 price target on shares of Allstate in a research report on Friday, June 21st. Morgan Stanley upped their target price on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and raised their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. Roth Mkm upped their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their target price on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.88.

Allstate Stock Performance

ALL stock traded down $2.91 during midday trading on Wednesday, reaching $158.43. The company had a trading volume of 332,355 shares, compared to its average volume of 1,591,346. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average price of $166.41 and a 200 day moving average price of $159.86. The firm has a market capitalization of $41.81 billion, a PE ratio of 34.90, a P/E/G ratio of 1.72 and a beta of 0.50. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate 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%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company earned ($1.30) earnings per share. Analysts anticipate that The Allstate Co. will post 13.51 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, May 31st. Allstate’s dividend payout ratio (DPR) is 81.24%.

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.