The Allstate Corporation (NYSE:ALL) Shares Acquired by Live Oak Investment Partners

Live Oak Investment Partners grew its position in The Allstate Corporation (NYSE:ALL) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,215 shares of the insurance provider’s stock after purchasing an additional 162 shares during the quarter. Allstate makes up 1.5% of Live Oak Investment Partners’ investment portfolio, making the stock its 21st largest position. Live Oak Investment Partners’ holdings in Allstate were worth $1,908,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. VSM Wealth Advisory LLC acquired a new stake in Allstate during the 4th quarter worth $25,000. Twin Tree Management LP acquired a new stake in Allstate during the 4th quarter worth $27,000. Vision Financial Markets LLC acquired a new stake in Allstate during the 4th quarter worth $29,000. Hopwood Financial Services Inc. acquired a new stake in Allstate during the 4th quarter worth $29,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Allstate during the 4th quarter worth $29,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Down 1.1%

Shares of NYSE:ALL opened at $196.12 on Wednesday. The company has a market cap of $51.94 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.03 and a beta of 0.35. The firm’s 50-day simple moving average is $200.91 and its 200-day simple moving average is $196.53. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The Allstate Corporation has a fifty-two week low of $157.48 and a fifty-two week high of $213.18.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $16.41 billion. During the same period in the previous year, the firm earned $5.13 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, June 9th. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

Allstate announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALL. Morgan Stanley lifted their price target 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. Raymond James Financial reiterated a “strong-buy” rating and set a $250.00 price target (up from $240.00) on shares of Allstate in a research note on Monday, May 5th. Barclays cut their price target on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Finally, Evercore ISI raised their price objective on shares of Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $225.20.

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.