One Wealth Advisors LLC Buys Shares of 1,708 The Allstate Corporation (NYSE:ALL)

Key Points

• One Wealth Advisors LLC acquired a new stake in The Allstate Corporation, purchasing 1,708 shares valued at approximately $355,000.
• Analysts have varying opinions on the stock, with fifteen buy ratings and a consensus target price of $227.07, while Wells Fargo recently reduced their price objective to $197.00.
• The company announced a quarterly dividend of $1.00 per share, which equates to an annualized payout of $4.00, representing a dividend yield of 2.04%.

One Wealth Advisors LLC bought a new stake in The Allstate Corporation (NYSE:ALL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,708 shares of the insurance provider's stock, valued at approximately $355,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after acquiring an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Allstate during the 4th quarter valued at approximately $231,000. Stenger Family Office LLC acquired a new position in Allstate in the 4th quarter valued at $439,000. Proficio Capital Partners LLC grew its holdings in shares of Allstate by 19.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,396 shares of the insurance provider's stock valued at $269,000 after purchasing an additional 230 shares during the period. Finally, LPL Financial LLC increased its position in shares of Allstate by 13.2% during the 4th quarter. LPL Financial LLC now owns 250,211 shares of the insurance provider's stock worth $48,238,000 after purchasing an additional 29,238 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ALL shares. William Blair initiated coverage on Allstate in a research report on Friday, June 6th. They issued a "sector outperform" rating for the company. Keefe, Bruyette & Woods boosted their price objective on Allstate from $235.00 to $237.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company dropped their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Raymond James Financial reissued 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. Finally, Evercore ISI increased their target price on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $227.07.

Allstate Stock Performance

Allstate stock traded up $1.91 during mid-day trading on Friday, hitting $195.85. 1,370,899 shares of the company's stock traded hands, compared to its average volume of 1,562,177. The firm has a 50 day moving average price of $199.34 and a 200 day moving average price of $196.88. 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 company has a market cap of $51.86 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.00 and a beta of 0.33. The Allstate Corporation has a one year low of $166.46 and a one year high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. During the same period in the prior year, the firm posted $5.13 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's payout ratio is 27.32%.

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.