Cetera Investment Advisers Acquires 1,917 Shares of The Allstate Corporation (NYSE:ALL)

Key Points

• Cetera Investment Advisers increased its stake in The Allstate Corporation by 3.2% during the first quarter, acquiring an additional 1,917 shares to hold 61,133 shares worth approximately $12.66 million.
• Allstate's most recent earnings report showed earnings per share (EPS) of $3.53, falling short of analyst predictions by $0.45, with revenues of $14.3 billion compared to expectations of $16.41 billion.
• The company announced a quarterly dividend of $1.00 per share, reflecting an annual yield of 2.06%, payable on October 1st with a record date of August 29th.

Cetera Investment Advisers raised its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,133 shares of the insurance provider's stock after acquiring an additional 1,917 shares during the quarter. Cetera Investment Advisers' holdings in Allstate were worth $12,659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its position in shares of Allstate by 30.3% in 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 period. Richard Bernstein Advisors LLC acquired a new position in Allstate in the 1st quarter worth about $3,341,000. Dock Street Asset Management Inc. acquired a new position in Allstate in the 1st quarter worth about $207,000. First Citizens Bank & Trust Co. increased its holdings in Allstate by 5.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock worth $11,906,000 after purchasing an additional 2,981 shares in the last quarter. Finally, Blackstone Inc. bought a new position in Allstate during the 4th quarter worth approximately $52,053,000. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Barclays lifted their price target on Allstate from $172.00 to $188.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Morgan Stanley lifted their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, William Blair started coverage on shares of Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $227.07.

Allstate Trading Down 0.8%

Shares of ALL stock traded down $1.61 on Wednesday, hitting $192.29. 1,891,513 shares of the company's stock traded hands, compared to its average volume of 1,422,405. The stock has a market capitalization of $50.92 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.01 and a beta of 0.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The company's fifty day simple moving average is $198.69 and its 200 day simple moving average is $197.01. The Allstate Corporation has a one year low of $168.36 and a one year high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a net margin of 6.19% and a return on equity of 24.62%. Allstate's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 EPS. Equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced 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. This represents a $4.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio (DPR) 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.