Atticus Wealth Management LLC Has $245,000 Stock Position in The Allstate Corporation $ALL

Atticus Wealth Management LLC boosted its stake in The Allstate Corporation (NYSE:ALL) by 216.7% during the second quarter, Holdings Channel reports. The institutional investor owned 1,216 shares of the insurance provider’s stock after buying an additional 832 shares during the period. Atticus Wealth Management LLC’s holdings in Allstate were worth $245,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Arlington Trust Co LLC grew its position in shares of Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of Allstate during the 1st quarter worth approximately $28,000. Meeder Asset Management Inc. grew its position in shares of Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Allstate during the 1st quarter worth approximately $43,000. Finally, Mattson Financial Services LLC acquired a new position in shares of Allstate during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 0.4%

NYSE:ALL opened at $197.04 on Thursday. 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 stock has a market capitalization of $51.92 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.79 and a beta of 0.37. The firm has a fifty day simple moving average of $201.16 and a two-hundred day simple moving average of $200.42. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76.

Allstate (NYSE:ALL) last posted its quarterly 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. The business had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.61 earnings per share. Analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate’s dividend payout ratio (DPR) is presently 18.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALL. 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. Barclays reaffirmed an “underweight” rating and set a $198.00 price target (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Morgan Stanley upped their price target on shares of Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Jefferies Financial Group upped their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Finally, Wolfe Research raised shares of Allstate to a “strong-buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $231.47.

Allstate Company 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.