1,279 Shares in The Allstate Corporation $ALL Bought by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. bought 1,279 shares of The Allstate Corporation, investing approximately $265,000, as reported in their recent SEC filing.
• The Allstate Corporation reported earnings of $5.94 per share, significantly beating the consensus estimate of $3.20, but achieved lower than expected revenue of $15.05 billion for the quarter.
• Allstate announced a quarterly dividend of $1.00 per share, which reflects an annualized dividend yield of 2.0%, with a payout ratio of 18.81%.

Clark Capital Management Group Inc. bought 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 Form 13F filing with the Securities and Exchange Commission. The firm bought 1,279 shares of the insurance provider's stock, valued at approximately $265,000.

A number of other institutional investors have also added to or reduced their stakes in ALL. Hughes Financial Services LLC purchased a new position in Allstate during the 1st quarter valued at about $28,000. Meeder Asset Management Inc. increased its position in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares during the period. McClarren Financial Advisors Inc. purchased a new position in Allstate during the 1st quarter valued at about $43,000. Mattson Financial Services LLC purchased a new position in Allstate during the 4th quarter valued at about $44,000. Finally, 1 North Wealth Services LLC purchased a new position in Allstate during the 1st quarter valued at about $51,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL traded down $1.76 during trading hours on Friday, hitting $200.72. The stock had a trading volume of 316,244 shares, compared to its average volume of 1,685,979. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a 50-day moving average price of $200.92 and a 200 day moving average price of $200.30. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $214.76. The firm has a market capitalization of $52.89 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.80 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last posted its 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 8.79% and a return on equity of 28.74%. The firm had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the previous year, the business posted $1.61 EPS. The business's revenue was up 5.8% compared to the same quarter last year. As a group, research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

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

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of analyst reports. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. William Blair initiated coverage on shares of Allstate in a research report on Friday, June 6th. They issued a "sector outperform" rating on the stock. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Finally, UBS Group lifted their price objective on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $231.21.

Allstate 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.