Bridgewater Advisors Inc. Takes Position in The Allstate Corporation (NYSE:ALL)

Bridgewater Advisors Inc. purchased a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,048 shares of the insurance provider's stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALL. Bank of America Corp DE grew its stake in Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. Norges Bank acquired a new position in Allstate in the 4th quarter valued at approximately $344,354,000. GQG Partners LLC raised its holdings in Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. GAMMA Investing LLC grew 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. Finally, Castle Hook Partners LP grew its stake in shares of Allstate by 1,303.3% in the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after purchasing an additional 766,058 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

ALL stock traded up $1.19 during mid-day trading on Friday, hitting $194.21. 1,617,428 shares of the company were exchanged, compared to its average volume of 1,771,389. The business has a 50 day simple moving average of $200.35 and a 200-day simple moving average of $196.66. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $51.43 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. The Allstate Corporation has a 1-year low of $162.27 and a 1-year high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $5.13 earnings per share. On average, equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.06%. Allstate's payout ratio is 27.32%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALL. UBS Group increased their price target on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Morgan Stanley raised their price objective on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Finally, Wall Street Zen cut Allstate from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $227.07.

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.