Clg LLC Takes $207,000 Position in The Allstate Corporation (NYSE:ALL)

Clg LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 998 shares of the insurance provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALL. Intrust Bank NA lifted its holdings in Allstate by 0.5% during the fourth 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 period. EverSource Wealth Advisors LLC grew its position in shares of Allstate by 4.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock valued at $290,000 after acquiring an additional 63 shares during the period. Miracle Mile Advisors LLC grew its position in shares of Allstate by 1.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 3,777 shares of the insurance provider’s stock valued at $782,000 after acquiring an additional 63 shares during the period. Empower Advisory Group LLC boosted its holdings in Allstate by 5.3% in the 4th quarter. Empower Advisory Group LLC now owns 1,286 shares of the insurance provider’s stock worth $248,000 after buying an additional 65 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its holdings in Allstate by 28.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 302 shares of the insurance provider’s stock worth $58,000 after buying an additional 66 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $228.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Wells Fargo & Company dropped their target price on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Barclays dropped their price target 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. William Blair started coverage on shares of Allstate in a research note on Friday, June 6th. They set a “sector outperform” rating for the company. Finally, Morgan Stanley boosted their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $225.20.

Allstate Trading Down 1.3%

Shares of Allstate stock opened at $195.68 on Thursday. The company has a 50-day moving average of $200.67 and a two-hundred day moving average of $196.80. The stock has a market cap of $51.82 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.03 and a beta of 0.35. The Allstate Corporation has a 12-month low of $157.48 and a 12-month high of $213.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.13 earnings per share. On average, research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 2.04%. Allstate’s dividend payout ratio (DPR) is currently 27.32%.

Allstate announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.