Second Line Capital LLC Invests $253,000 in The Allstate Corporation $ALL

Second Line Capital LLC purchased a new position in The Allstate Corporation (NYSE:ALL) during the first quarter, Holdings Channel.com reports. The firm purchased 1,215 shares of the insurance provider’s stock, valued at approximately $253,000.

Other hedge funds have also modified their holdings of the company. Hughes Financial Services LLC acquired a new position in shares of Allstate in the first quarter worth $28,000. Kapitalo Investimentos Ltda acquired a new position in shares of Allstate in the fourth quarter worth $29,000. Meeder Asset Management Inc. increased its stake 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 worth $39,000 after acquiring an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Allstate in the first quarter worth $43,000. Finally, Mattson Financial Services LLC acquired a new position in shares of Allstate in the fourth quarter worth $44,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Down 0.1%

NYSE ALL opened at $203.63 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a 50-day simple moving average of $199.81 and a 200 day simple moving average of $199.46. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $214.76. The stock has a market cap of $53.66 billion, a PE ratio of 9.57, a PEG ratio of 0.83 and a beta of 0.35.

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

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate’s dividend payout ratio is 18.81%.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research reports. Citigroup raised shares of Allstate to a “hold” rating in a research note on Wednesday, August 13th. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 target price (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. BMO Capital Markets increased their target price on shares of Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. William Blair began coverage on shares of Allstate in a research report on Friday, June 6th. They set a “sector outperform” rating on the stock. Finally, UBS Group increased their target price on shares of Allstate from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average price target of $230.73.

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.