1,450 Shares in The Allstate Corporation $ALL Bought by IMS Capital Management

Key Points

• IMS Capital Management acquired 1,450 shares of The Allstate Corporation, valued at approximately $292,000, furthering the trend of increased institutional investment in the company.
• Allstate reported an earnings per share of $5.94 for the last quarter, significantly surpassing analysts' expectations, and generated $15.05 billion in revenue.
• The company declared a quarterly dividend of $1.00 per share, leading to an annualized dividend yield of 1.9%.

IMS Capital Management acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,450 shares of the insurance provider's stock, valued at approximately $292,000.

A number of other hedge funds have also recently made changes to their positions in ALL. Brighton Jones LLC lifted its stake in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Allstate during the 4th quarter worth $231,000. Vise Technologies Inc. purchased a new stake in Allstate in the fourth quarter valued at about $452,000. Sunbelt Securities Inc. raised its stake in Allstate by 132.4% in the fourth quarter. Sunbelt Securities Inc. now owns 846 shares of the insurance provider's stock valued at $163,000 after buying an additional 482 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Allstate by 8.2% in the fourth quarter. Toronto Dominion Bank now owns 141,580 shares of the insurance provider's stock valued at $27,295,000 after buying an additional 10,682 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 0.5%

Shares of ALL opened at $207.56 on Wednesday. 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 Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. The stock's 50 day moving average is $202.14 and its two-hundred day moving average is $200.61. The firm has a market cap of $54.69 billion, a P/E ratio of 9.76, a PEG ratio of 0.81 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same period last year, the company earned $1.61 earnings per share. Allstate's quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

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

Analysts Set New Price Targets

ALL has been the subject of a number of research analyst reports. Wolfe Research upgraded Allstate to a "strong-buy" rating in a research note on Tuesday, September 16th. William Blair initiated coverage on Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating for the company. Jefferies Financial Group raised their price objective on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Two 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $231.47.

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.

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