Easterly Investment Partners LLC Takes Position in The Allstate Corporation (NYSE:ALL)

Easterly Investment Partners LLC purchased a new stake in The Allstate Corporation (NYSE:ALL) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,544 shares of the insurance provider’s stock, valued at approximately $3,219,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALL. Rehmann Capital Advisory Group grew its position in Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after acquiring an additional 51 shares during the period. Vantage Point Financial LLC boosted its position in shares of Allstate by 3.6% in the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock worth $310,000 after buying an additional 52 shares during the period. Confluence Wealth Services Inc. boosted its position in shares of Allstate by 0.7% in the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock worth $1,558,000 after buying an additional 54 shares during the period. Achmea Investment Management B.V. boosted its position in shares of Allstate by 0.3% in the first quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider’s stock worth $4,262,000 after buying an additional 57 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its position in shares of Allstate by 1.7% in the first quarter. Avidian Wealth Enterprises LLC now owns 3,552 shares of the insurance provider’s stock worth $735,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several analyst reports. Evercore ISI upped their target price on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Raymond James Financial reiterated a “strong-buy” rating and issued a $250.00 price target (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Morgan Stanley boosted their price target on Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.07.

Allstate Trading Up 1.7%

Shares of NYSE ALL opened at $195.63 on Thursday. The stock’s 50 day moving average price is $200.54 and its two-hundred day moving average price is $196.65. The Allstate Corporation has a 52-week low of $162.27 and a 52-week high of $213.18. The stock has a market capitalization of $51.81 billion, a P/E ratio of 13.36, a PEG ratio of 0.99 and a beta of 0.33. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL) last posted its 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 company had revenue of $14.30 billion for the quarter, compared to the consensus estimate 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 period last year, the company posted $5.13 earnings per share. On average, analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, August 29th. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

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.