Board of the Pension Protection Fund Takes $765,000 Position in The Allstate Corporation $ALL

Board of the Pension Protection Fund bought a new stake in shares of The Allstate Corporation (NYSE:ALL) in the 2nd quarter, Holdings Channel reports. The fund bought 3,800 shares of the insurance provider’s stock, valued at approximately $765,000.

A number of other hedge funds have also recently bought and sold shares of ALL. Brighton Jones LLC grew its stake in Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate during the fourth quarter worth approximately $231,000. Wealthcare Advisory Partners LLC grew its position in shares of Allstate by 30.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,895 shares of the insurance provider’s stock worth $392,000 after buying an additional 439 shares in the last quarter. GAMMA Investing LLC grew its holdings in Allstate by 21.3% during the 1st quarter. GAMMA Investing LLC now owns 6,152 shares of the insurance provider’s stock worth $1,274,000 after acquiring an additional 1,082 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Allstate by 1,664.3% during the 1st quarter. SG Americas Securities LLC now owns 17,961 shares of the insurance provider’s stock worth $3,719,000 after acquiring an additional 16,943 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Down 1.6%

NYSE:ALL opened at $205.59 on Friday. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.70. The firm has a market capitalization of $54.18 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.79 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $206.06 and a 200 day simple moving average of $201.07.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 29th. Allstate’s payout ratio is presently 18.81%.

Analyst Ratings Changes

Several brokerages have weighed in on ALL. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a report on Wednesday. Jefferies Financial Group lifted their price target on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Morgan Stanley lifted their target price on Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods lifted their target price on Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Finally, Wolfe Research raised shares of Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $234.50.

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.