The Allstate Corporation (NYSE:ALL) Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Wealth Management increased its stake in The Allstate Corporation to $3.61 million, growing its holdings by 404.4% during the first quarter.
• Analysts have raised their price targets for Allstate, with UBS Group setting a new target of $235.00 and maintaining a "buy" rating on the stock.
• Allstate recently announced a quarterly dividend of $1.00, representing a 2.0% yield and a dividend payout ratio of 27.32%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 404.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,413 shares of the insurance provider's stock after acquiring an additional 13,961 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Allstate were worth $3,606,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ALL. Brighton Jones LLC lifted its holdings in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after acquiring an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $231,000. Stenger Family Office LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $439,000. Schroder Investment Management Group lifted its holdings in shares of Allstate by 45.9% in the 4th quarter. Schroder Investment Management Group now owns 63,410 shares of the insurance provider's stock worth $12,225,000 after acquiring an additional 19,947 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Allstate by 80.6% in the 4th quarter. Franklin Resources Inc. now owns 246,770 shares of the insurance provider's stock worth $47,575,000 after acquiring an additional 110,138 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ALL shares. Raymond James Financial restated a "strong-buy" rating and issued a $250.00 price objective (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Wells Fargo & Company lowered their price target on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Barclays reiterated an "underweight" rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a report on Thursday. Wall Street Zen lowered shares of Allstate from a "buy" rating to a "hold" rating in a report on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $228.40.

Allstate Trading Down 1.7%

Shares of ALL traded down $3.54 during trading hours on Friday, reaching $199.71. 2,041,482 shares of the company traded hands, compared to its average volume of 1,619,968. The firm has a market cap of $52.63 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 1.06 and a beta of 0.35. The Allstate Corporation has a 12-month low of $168.36 and a 12-month high of $213.18. The company has a current ratio of 0.43, a quick ratio of 0.40 and a debt-to-equity ratio of 0.37. The stock's fifty day moving average price is $198.44 and its 200 day moving average price is $197.11.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. Sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's dividend payout ratio is 27.32%.

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.