IronOak Wealth LLC. Takes $1.43 Million Position in The Allstate Corporation $ALL

Key Points

• IronOak Wealth LLC acquired 7,067 shares of The Allstate Corporation valued at approximately $1,429,000 during the 2nd quarter.
• The company reported an EPS of $5.94 for the last quarter, exceeding analysts' expectations of $3.20, with a net revenue of $15.05 billion.
• Allstate announced a quarterly dividend of $1.00, translating to an annualized dividend of $4.00 and a yield of 1.9%.

IronOak Wealth LLC. purchased a new stake in The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,067 shares of the insurance provider's stock, valued at approximately $1,429,000.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Allstate by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock worth $2,424,710,000 after purchasing an additional 2,374,684 shares in the last quarter. Boston Partners raised its stake in shares of Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after acquiring an additional 2,134,893 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Allstate by 25,026.1% in the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Mackenzie Financial Corp grew its position in Allstate by 261.6% during the 4th quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock worth $160,575,000 after acquiring an additional 602,533 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Allstate by 27.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock valued at $482,073,000 after purchasing an additional 497,982 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Up 0.2%

Shares of NYSE ALL traded up $0.45 during trading hours on Monday, hitting $206.49. The company had a trading volume of 1,821,870 shares, compared to its average volume of 1,346,719. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $214.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The firm's 50 day moving average is $201.84 and its 200-day moving average is $200.56. The stock has a market capitalization of $54.41 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last released 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 net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the company earned $1.61 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 annualized dividend and a yield of 1.9%. Allstate's dividend payout ratio (DPR) is 18.81%.

Wall Street Analysts Forecast Growth

ALL has been the subject of several research reports. UBS Group raised their price objective on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. William Blair initiated coverage on shares of Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating for the company. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. BMO Capital Markets boosted their target price on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Finally, Wolfe Research upgraded Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $231.47.

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.