Farther Finance Advisors LLC Purchases 3,531 Shares of The Allstate Co. (NYSE:ALL)

Farther Finance Advisors LLC raised its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 169.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,615 shares of the insurance provider's stock after buying an additional 3,531 shares during the quarter. Farther Finance Advisors LLC's holdings in Allstate were worth $1,165,000 at the end of the most recent quarter.

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

Allstate Stock Performance

Shares of ALL stock traded down $1.71 on Friday, reaching $198.61. The stock had a trading volume of 1,330,201 shares, compared to its average volume of 1,615,018. 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 Allstate Co. has a 1 year low of $156.66 and a 1 year high of $213.18. The stock has a market cap of $52.60 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.01 and a beta of 0.35. The company has a 50 day simple moving average of $199.90 and a 200 day simple moving average of $197.08.

Allstate (NYSE:ALL - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $16.41 billion. During the same period in the previous year, the business posted $5.13 earnings per share. The company's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts expect that The Allstate Co. will post 18.74 EPS for the current year.

Allstate announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 2.01%. Allstate's dividend payout ratio is currently 27.32%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays dropped their price objective on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods increased their target price on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price target on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Finally, Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. 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 issued a strong buy rating to the stock. According to data from MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and a consensus price target 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.