Cary Street Partners Financial LLC Buys New Shares in The Allstate Co. (NYSE:ALL)

Cary Street Partners Financial LLC acquired a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,247 shares of the insurance provider's stock, valued at approximately $240,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ALL. Balyasny Asset Management L.P. raised its stake in shares of Allstate by 5.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 529,328 shares of the insurance provider's stock valued at $102,049,000 after buying an additional 28,141 shares in the last quarter. Baldwin Investment Management LLC raised its stake in shares of Allstate by 29.8% in the 4th quarter. Baldwin Investment Management LLC now owns 2,144 shares of the insurance provider's stock valued at $413,000 after buying an additional 492 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Allstate by 157.9% in the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after buying an additional 4,035,629 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Allstate by 12.2% in the 4th quarter. Benjamin Edwards Inc. now owns 38,540 shares of the insurance provider's stock valued at $7,435,000 after buying an additional 4,178 shares in the last quarter. Finally, Alteri Wealth LLC acquired a new position in shares of Allstate in the 4th quarter valued at $492,000. Institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ALL shares. Evercore ISI increased their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Barclays lowered their target price on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. StockNews.com raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $250.00 target price (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $225.20.

Allstate Stock Down 0.9%

Shares of ALL stock traded down $1.86 on Wednesday, hitting $200.70. 1,458,807 shares of the stock were exchanged, compared to its average volume of 1,616,637. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $53.15 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The business has a 50-day moving average of $199.22 and a 200 day moving average of $195.34. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly 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). The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Allstate's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.13 earnings per share. Equities analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $1.00 per share. This is a boost from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, March 10th. Allstate's dividend payout ratio (DPR) is currently 27.32%.

Allstate declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

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.