Beacon Investment Advisory Services Inc. Makes New Investment in The Allstate Corporation $ALL

Key Points

• Beacon Investment Advisory Services Inc. has acquired 27,954 shares of The Allstate Corporation, worth approximately $5.63 million, as reported in their recent Form 13F filing.
• Allstate's stock received a consensus rating of Moderate Buy from analysts, with an average target price of $231.47, following upgrades from several major firms.
• The company has declared a quarterly $1.00 dividend, which results in a 1.9% dividend yield and will be paid to stockholders on October 1st.

Beacon Investment Advisory Services Inc. purchased a new stake in The Allstate Corporation (NYSE:ALL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,954 shares of the insurance provider's stock, valued at approximately $5,628,000.

A number of other large investors also recently made changes to their positions in ALL. Price T Rowe Associates Inc. MD lifted its stake in shares of Allstate by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after purchasing an additional 2,374,684 shares during the period. Boston Partners lifted its stake in shares of Allstate by 613.9% in the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after purchasing an additional 2,134,893 shares during the period. GAMMA Investing LLC lifted its stake 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 valued at $263,785,000 after purchasing an additional 1,268,825 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Allstate by 27.2% in 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 during the period. Finally, Strs Ohio acquired a new stake in Allstate during the 1st quarter worth $84,408,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. William Blair assumed coverage on Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating on the stock. Wolfe Research raised Allstate to a "strong-buy" rating in a research note on Tuesday, September 16th. Cantor Fitzgerald raised Allstate to a "hold" rating in a research note on Wednesday, August 13th. Citigroup raised Allstate to a "hold" rating in a research note on Wednesday, August 13th. Finally, UBS Group raised their price objective on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and an average target price of $231.47.

Allstate Price Performance

ALL stock opened at $209.30 on Thursday. The stock has a 50-day moving average price of $202.41 and a two-hundred day moving average price of $200.67. The stock has a market cap of $55.15 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37. 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 1 year low of $176.00 and a 1 year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. Equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate's dividend payout ratio (DPR) is presently 18.81%.

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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