Bryce Point Capital LLC Acquires Shares of 3,195 The Allstate Corporation (NYSE:ALL)

Key Points

• Bryce Point Capital LLC purchased a new stake in The Allstate Corporation worth approximately $643,000, acquiring 3,195 shares in the first quarter of the year.
• The Allstate Corporation reported earnings of $3.53 per share, missing analysts' expectations by $0.45, while revenues for the quarter totaled $14.30 billion.
• Allstate announced a quarterly dividend of $1.00 per share, yielding 2.04%, with the ex-dividend date set for August 29th.

Bryce Point Capital LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,195 shares of the insurance provider's stock, valued at approximately $643,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC boosted its position in Allstate by 30.3% during the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock valued at $2,352,000 after purchasing an additional 2,643 shares during the last quarter. Richard Bernstein Advisors LLC purchased a new stake in shares of Allstate during the 1st quarter worth about $3,341,000. Dock Street Asset Management Inc. purchased a new stake in shares of Allstate during the 1st quarter worth about $207,000. First Citizens Bank & Trust Co. lifted its holdings in shares of Allstate by 5.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock valued at $11,906,000 after buying an additional 2,981 shares during the last quarter. Finally, Blackstone Inc. bought a new stake in shares of Allstate in the 4th quarter valued at approximately $52,053,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $250.00 price objective (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Morgan Stanley raised their price target on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. William Blair began coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating on the stock. Finally, Wall Street Zen lowered Allstate from a "buy" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Allstate has an average rating of "Moderate Buy" and a consensus price target of $227.07.

Allstate Stock Performance

NYSE:ALL traded down $3.77 during mid-day trading on Monday, hitting $191.93. 1,583,557 shares of the company's stock traded hands, compared to its average volume of 1,468,245. The firm has a market capitalization of $50.83 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. The firm has a 50 day moving average of $198.98 and a two-hundred day moving average of $197.03. 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 Allstate Corporation has a 12 month low of $168.29 and a 12 month high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same quarter last year, the firm earned $5.13 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given 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 2.08%. Allstate's dividend payout ratio is 27.32%.

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.