Bayforest Capital Ltd Acquires 1,278 Shares of The Allstate Corporation $ALL

Key Points

• Bayforest Capital Ltd increased its stake in The Allstate Corporation by 356%, acquiring an additional 1,278 shares, bringing its total holdings to 1,637 shares worth approximately $339,000.
• Allstate recently reported earnings of $5.94 per share, which significantly exceeded analysts' estimates of $3.20, although its revenue fell short of expectations at $15.05 billion.
• The company declared a quarterly dividend of $1.00 per share, translating to an annual yield of 2.0%, with a payout ratio of 18.81%.

Bayforest Capital Ltd boosted its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 356.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,637 shares of the insurance provider's stock after acquiring an additional 1,278 shares during the quarter. Bayforest Capital Ltd's holdings in Allstate were worth $339,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in Allstate in the 1st quarter worth about $28,000. Meeder Asset Management Inc. increased its stake in Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after acquiring an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Allstate in the 1st quarter worth about $43,000. Mattson Financial Services LLC bought a new position in Allstate in the 4th quarter worth about $44,000. Finally, 1 North Wealth Services LLC bought a new position in Allstate in the 1st quarter worth about $51,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

NYSE:ALL opened at $199.91 on Thursday. The stock has a market cap of $52.68 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37. The firm's fifty day simple moving average is $200.80 and its 200 day simple moving average is $200.21. The Allstate Corporation has a twelve month low of $176.00 and a twelve month 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.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.61 earnings per share. As a group, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's payout ratio is currently 18.81%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ALL shares. William Blair started coverage on Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating on the stock. Citigroup raised shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Jefferies Financial Group lifted their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Finally, Morgan Stanley lifted their price target on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $231.21.

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.

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