The Allstate Corporation (NYSE:ALL) Shares Bought by Forum Financial Management LP

Forum Financial Management LP lifted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 74.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,753 shares of the insurance provider's stock after purchasing an additional 7,551 shares during the period. Forum Financial Management LP's holdings in Allstate were worth $3,676,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ALL. Bank of America Corp DE grew its holdings in shares of Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares during the last quarter. Norges Bank bought a new position in Allstate during the 4th quarter worth about $344,354,000. GQG Partners LLC grew its holdings in Allstate by 64.1% during the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock worth $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. GAMMA Investing LLC grew its holdings in Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Finally, Castle Hook Partners LP grew its holdings in Allstate by 1,303.3% during the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock worth $159,021,000 after acquiring an additional 766,058 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

Shares of Allstate stock traded up $1.19 during trading hours on Friday, reaching $194.21. 1,617,433 shares of the company's stock were exchanged, compared to its average volume of 1,648,592. The Allstate Corporation has a 1 year low of $162.27 and a 1 year high of $213.18. The company has a market capitalization of $51.43 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. The business has a fifty day moving average of $200.35 and a two-hundred day moving average of $196.66. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results 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 business had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. During the same period in the previous year, the company earned $5.13 EPS. Allstate's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Analyst Ratings Changes

Several brokerages have issued reports on ALL. Morgan Stanley increased their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Raymond James Financial reiterated a "strong-buy" rating and set a $250.00 price objective (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Finally, Wall Street Zen lowered shares of Allstate from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $227.07.

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.