Richard Bernstein Advisors LLC Makes New Investment in The Allstate Corporation (NYSE:ALL)

Richard Bernstein Advisors LLC purchased a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 16,137 shares of the insurance provider's stock, valued at approximately $3,341,000.

Other hedge funds also recently made changes to their positions in the company. VSM Wealth Advisory LLC bought a new stake in shares of Allstate during the 4th quarter worth $25,000. Twin Tree Management LP bought a new stake in shares of Allstate during the 4th quarter worth $27,000. Hopwood Financial Services Inc. bought a new stake in shares of Allstate during the 4th quarter worth $29,000. Kapitalo Investimentos Ltda bought a new stake in shares of Allstate during the 4th quarter worth $29,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Allstate during the 4th quarter worth $40,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the subject of several recent research reports. William Blair initiated coverage on shares of Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating for the company. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Raymond James Financial reissued a "strong-buy" rating and issued a $250.00 price target (up from $240.00) on shares of Allstate in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Finally, Morgan Stanley boosted their price target on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $227.07.

Allstate Trading Down 0.8%

Shares of NYSE ALL traded down $1.48 during midday trading on Friday, hitting $193.20. 1,049,203 shares of the company traded hands, compared to its average volume of 1,640,561. The Allstate Corporation has a 12-month low of $161.82 and a 12-month high of $213.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50-day moving average price of $200.99 and a 200 day moving average price of $196.66. The firm has a market cap of $51.16 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.01 and a beta of 0.33.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). The company had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. Allstate's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.13 EPS. As a group, analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Monday, June 9th. Allstate's dividend payout ratio (DPR) is presently 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.