Elevation Point Wealth Partners LLC Makes New $606,000 Investment in The Allstate Co. (NYSE:ALL)

Elevation Point Wealth Partners LLC acquired a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,925 shares of the insurance provider's stock, valued at approximately $606,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC bought a new position in Allstate in the fourth quarter valued at approximately $25,000. Twin Tree Management LP bought a new position in shares of Allstate in the 4th quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in shares of Allstate during the 4th quarter worth $29,000. Hopwood Financial Services Inc. acquired a new stake in Allstate in the fourth quarter valued at about $29,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Allstate in the fourth quarter valued at about $29,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Up 0.2%

Shares of ALL traded up $0.49 during mid-day trading on Monday, reaching $199.41. 1,099,761 shares of the company were exchanged, compared to its average volume of 1,613,580. The business has a 50 day simple moving average of $200.21 and a two-hundred day simple moving average of $196.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The stock has a market capitalization of $52.81 billion, a PE ratio of 11.74, a PEG ratio of 1.01 and a beta of 0.35. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the previous year, the business posted $5.13 EPS. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

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 issued a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 annualized dividend and a yield of 2.01%. Allstate's payout ratio is 27.32%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. William Blair initiated coverage on shares of Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating for the company. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Raymond James reiterated a "strong-buy" rating and issued a $250.00 price target (up from $240.00) on shares of Allstate in a research note on Monday, May 5th. One 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. According to MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.

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.