GSA Capital Partners LLP Takes Position in The Allstate Corporation (NYSE:ALL)

Key Points

• GSA Capital Partners LLP acquired 11,650 shares in The Allstate Corporation, amounting to approximately $2.4 million, according to their latest SEC filing.
• Analysts have recently raised their price targets for Allstate, with the consensus target now at $227.07 per share, indicating a moderate buy rating overall.
• Allstate declared a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 2.08%, with a payout ratio of 27.32%.

GSA Capital Partners LLP bought a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,650 shares of the insurance provider's stock, valued at approximately $2,412,000.

A number of other institutional investors have also recently added to or reduced their stakes in ALL. Rehmann Capital Advisory Group boosted its stake in shares of Allstate by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock valued at $338,000 after purchasing an additional 51 shares during the last quarter. Vantage Point Financial LLC boosted its stake in shares of Allstate by 3.6% in the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock valued at $310,000 after purchasing an additional 52 shares during the last quarter. Confluence Wealth Services Inc. boosted its stake in shares of Allstate by 0.7% in the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock valued at $1,558,000 after purchasing an additional 54 shares during the last quarter. Achmea Investment Management B.V. boosted its stake in shares of Allstate by 0.3% in the 1st quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider's stock valued at $4,262,000 after purchasing an additional 57 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its stake in shares of Allstate by 1.7% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 3,552 shares of the insurance provider's stock valued at $735,000 after purchasing an additional 59 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ALL. Morgan Stanley upped their price objective on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. William Blair initiated coverage on shares of Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating on the stock. Wall Street Zen lowered shares of Allstate from a "buy" rating to a "hold" rating in a research note on Monday. Evercore ISI increased their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $227.07.

Allstate Stock Up 1.0%

ALL traded up $1.83 during trading on Tuesday, hitting $193.83. 1,419,104 shares of the company's stock were exchanged, compared to its average volume of 1,428,124. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The business's 50 day moving average is $198.69 and its two-hundred day moving average is $197.01. The Allstate Corporation has a fifty-two week low of $168.36 and a fifty-two week high of $213.18. The stock has a market cap of $51.33 billion, a P/E ratio of 13.24, a PEG ratio of 1.00 and a beta of 0.33.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.13 EPS. As a group, equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company 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 $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.06%. Allstate's dividend payout ratio is currently 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.