Mezzasalma Advisors LLC Has $2.30 Million Holdings in The Allstate Corporation (NYSE:ALL)

Mezzasalma Advisors LLC lifted its holdings in The Allstate Corporation (NYSE:ALL) by 36.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,109 shares of the insurance provider’s stock after purchasing an additional 2,991 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Allstate were worth $2,300,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ALL. Intrust Bank NA boosted its stake in shares of Allstate by 0.5% during the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock worth $2,340,000 after buying an additional 61 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Allstate by 4.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock valued at $290,000 after purchasing an additional 63 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in Allstate by 1.7% in the first quarter. Miracle Mile Advisors LLC now owns 3,777 shares of the insurance provider’s stock valued at $782,000 after purchasing an additional 63 shares in the last quarter. Empower Advisory Group LLC grew its stake in Allstate by 5.3% in the fourth quarter. Empower Advisory Group LLC now owns 1,286 shares of the insurance provider’s stock valued at $248,000 after purchasing an additional 65 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in shares of Allstate by 28.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 302 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Allstate stock opened at $198.15 on Wednesday. The company has a market capitalization of $52.47 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.04 and a beta of 0.35. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The Allstate Corporation has a 12 month low of $156.87 and a 12 month high of $213.18. The stock’s 50 day moving average is $200.62 and its 200-day moving average is $196.81.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. 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 prior year, the company earned $5.13 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate declared that its Board of Directors has approved a stock buyback program on Wednesday, February 26th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Monday, June 9th. Allstate’s dividend payout ratio is currently 27.32%.

Analyst Upgrades and Downgrades

ALL has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Barclays cut their target price on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price target on Allstate from $228.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $225.20.

Allstate Company 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.