Invst LLC Makes New Investment in The Allstate Corporation $ALL

Invst LLC bought a new position in The Allstate Corporation (NYSE:ALL) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,803 shares of the insurance provider’s stock, valued at approximately $1,202,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hughes Financial Services LLC purchased a new position in Allstate in the first quarter worth about $28,000. Meeder Asset Management Inc. boosted its position in Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in Allstate in the first quarter worth about $43,000. Mattson Financial Services LLC purchased a new position in Allstate in the fourth quarter worth about $44,000. Finally, 1 North Wealth Services LLC purchased a new position in Allstate in the first quarter worth about $51,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Up 1.2%

Shares of ALL opened at $202.51 on Friday. The business’s 50 day moving average is $200.92 and its 200 day moving average is $200.30. The company has a market capitalization of $53.36 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. Research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Allstate’s payout ratio is presently 18.81%.

Analyst Upgrades and Downgrades

ALL has been the topic of several recent research reports. Barclays reaffirmed an “underweight” rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Jefferies Financial Group raised their price objective on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods raised their price objective on Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Morgan Stanley raised their price objective on Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $231.21.

About Allstate

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.