AlphaCore Capital LLC Boosts Stake in The Allstate Corporation (NYSE:ALL)

AlphaCore Capital LLC lifted its holdings in The Allstate Corporation (NYSE:ALL) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,347 shares of the insurance provider’s stock after acquiring an additional 257 shares during the quarter. AlphaCore Capital LLC’s holdings in Allstate were worth $696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. Hughes Financial Services LLC acquired a new stake in Allstate during the first quarter valued at $28,000. Kapitalo Investimentos Ltda purchased a new position in Allstate during the fourth quarter valued at $29,000. Meeder Asset Management Inc. grew its position in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 99 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in shares of Allstate in the first quarter valued at about $43,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of Allstate in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $206.71 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $198.31 and its 200-day moving average price is $197.77. The Allstate Corporation has a twelve month low of $169.95 and a twelve month high of $213.18. The company has a market cap of $54.47 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.85 and a beta of 0.35.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. Allstate’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALL. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group lifted their target price on shares of Allstate from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the company an “equal weight” rating in a research report on Tuesday. BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.00.

Allstate 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.