Clear Harbor Asset Management LLC Acquires New Position in The Allstate Corporation $ALL

Key Points

• Clear Harbor Asset Management LLC acquired a new position in The Allstate Corporation, purchasing 2,571 shares valued at approximately $518,000 during the second quarter.
• The Allstate Corporation reported $5.94 earnings per share for the last quarter, significantly exceeding the consensus estimate of $3.20, despite total revenue falling short of expectations.
• Allstate recently declared a quarterly dividend of $1.00 per share, with a yield of 1.9%, and a payout ratio of 18.81%.

Clear Harbor Asset Management LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,571 shares of the insurance provider's stock, valued at approximately $518,000.

A number of other large investors also recently modified their holdings of ALL. Arlington Trust Co LLC raised its holdings in shares of Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after buying an additional 89 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Allstate in the 1st quarter worth approximately $28,000. Meeder Asset Management Inc. increased its stake in Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after purchasing an additional 99 shares during the period. McClarren Financial Advisors Inc. purchased a new position in Allstate in the 1st quarter worth approximately $43,000. Finally, Mattson Financial Services LLC purchased a new position in Allstate in the 4th quarter worth approximately $44,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Up 0.2%

Shares of ALL opened at $206.49 on Tuesday. The business's 50 day moving average is $201.84 and its 200 day moving average is $200.56. The company has a market capitalization of $54.41 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued 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. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. Research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm 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 dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio (DPR) is 18.81%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Wolfe Research raised Allstate to a "strong-buy" rating in a research note on Tuesday, September 16th. Morgan Stanley boosted their target price on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. William Blair initiated coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating on the stock. Finally, Citigroup raised Allstate to a "hold" rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $231.47.

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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