Empowered Funds LLC Grows Stake in The Allstate Corporation $ALL

Key Points

• Empowered Funds LLC increased its stake in The Allstate Corporation by 12.6%, acquiring an additional 1,830 shares, bringing its total to 16,302 shares valued at approximately $3.38 million.
• The Allstate Corporation reported earnings per share (EPS) of $5.94 for the quarter, significantly surpassing analysts' expectations of $3.20, while revenue was 5.8% higher year-over-year but below expectations.
• Allstate announced a $1.00 quarterly dividend scheduled for payment on October 1st, contributing to an annualized yield of 2.0% and a dividend payout ratio of 18.81%.

Empowered Funds LLC grew its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 12.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,302 shares of the insurance provider's stock after buying an additional 1,830 shares during the period. Empowered Funds LLC's holdings in Allstate were worth $3,376,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new position in shares of Allstate during the 1st quarter valued at $28,000. Meeder Asset Management Inc. lifted its position in shares of Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after buying an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Allstate during the 1st quarter valued at $43,000. Mattson Financial Services LLC purchased a new position in shares of Allstate during the 4th quarter valued at $44,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Allstate during the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Price Performance

Shares of Allstate stock traded down $0.62 during trading on Tuesday, hitting $196.27. 1,489,172 shares of the stock traded hands, compared to its average volume of 1,689,043. The stock has a market cap of $51.72 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.80 and a beta of 0.37. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $214.76. The firm's fifty day moving average is $201.04 and its 200-day moving average is $200.48. The company has a quick ratio of 0.43, a current 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 for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the prior year, the business posted $1.61 EPS. Allstate's quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 2.0%. Allstate's dividend payout ratio (DPR) is 18.81%.

Wall Street Analyst Weigh In

ALL has been the topic of a number of analyst reports. Jefferies Financial Group boosted their price objective on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, August 11th. BMO Capital Markets boosted their price objective on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Wolfe Research initiated coverage on Allstate in a research note on Monday. They set an "outperform" rating and a $235.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $231.47.

Allstate 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.