Consolidated Planning Corp Purchases 20,034 Shares of The Allstate Corporation (NYSE:ALL)

Consolidated Planning Corp lifted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 1,639.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,256 shares of the insurance provider's stock after acquiring an additional 20,034 shares during the quarter. Consolidated Planning Corp's holdings in Allstate were worth $4,401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. VSM Wealth Advisory LLC bought a new stake in shares of Allstate in the fourth quarter valued at about $25,000. Twin Tree Management LP bought a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Vision Financial Markets LLC bought a new stake in shares of Allstate in the fourth quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new stake in shares of Allstate in the fourth quarter valued at about $29,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Allstate in the fourth quarter valued at about $29,000. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALL. Barclays cut their target price on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Evercore ISI lifted their target price on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company cut their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $225.20.

Allstate Price Performance

Shares of NYSE ALL opened at $195.47 on Monday. The business's 50 day moving average price is $200.82 and its 200 day moving average price is $196.58. The firm has a market cap of $51.76 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.02 and a beta of 0.35. The Allstate Corporation has a 52 week low of $157.48 and a 52 week high of $213.18. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last issued its 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). The firm had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. Allstate's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.13 EPS. On average, sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 2.05%. Allstate's dividend payout ratio is currently 27.32%.

Allstate announced that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.

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