Cornerstone Wealth Group LLC Buys New Shares in The Allstate Corporation (NYSE:ALL)

Cornerstone Wealth Group LLC acquired a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 15,159 shares of the insurance provider's stock, valued at approximately $3,139,000.

A number of other institutional investors also recently modified their holdings of the stock. VSM Wealth Advisory LLC bought a new position in Allstate in the fourth quarter worth approximately $25,000. Twin Tree Management LP acquired a new position in Allstate during the 4th quarter valued at about $27,000. Vision Financial Markets LLC purchased a new stake in shares of Allstate in the fourth quarter worth approximately $29,000. Hopwood Financial Services Inc. bought a new position in shares of Allstate in the fourth quarter valued at approximately $29,000. Finally, Kapitalo Investimentos Ltda bought a new position in Allstate during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ALL shares. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 price target (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Barclays lowered their price target on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley raised their price objective on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $225.20.

Allstate Trading Up 0.8%

Shares of ALL opened at $195.67 on Friday. The Allstate Corporation has a 1-year low of $157.50 and a 1-year high of $213.18. The company has a market capitalization of $51.82 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.01 and a beta of 0.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The firm's 50 day simple moving average is $200.85 and its 200 day simple moving average is $196.47.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (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 company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same period in the prior year, the firm posted $5.13 earnings per share. The business's revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. Allstate's dividend payout ratio (DPR) is presently 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.