The Allstate Co. (NYSE:ALL) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. boosted its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 73.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,645 shares of the insurance provider's stock after purchasing an additional 1,969 shares during the period. Fulton Bank N.A.'s holdings in Allstate were worth $962,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate during the 4th quarter worth approximately $231,000. Stenger Family Office LLC purchased a new position in shares of Allstate during the 4th quarter valued at approximately $439,000. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Allstate by 4.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,688 shares of the insurance provider's stock valued at $1,482,000 after purchasing an additional 328 shares during the period. Finally, U.S. Capital Wealth Advisors LLC lifted its stake in shares of Allstate by 4.9% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 9,305 shares of the insurance provider's stock valued at $1,794,000 after purchasing an additional 436 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALL shares. Morgan Stanley lifted their price objective on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods lifted their price target on Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $225.20.

Allstate Price Performance

NYSE ALL traded down $0.39 during trading hours on Thursday, hitting $206.41. 999,964 shares of the company's stock traded hands, compared to its average volume of 1,604,895. The company has a market capitalization of $54.66 billion, a PE ratio of 12.15, a PEG ratio of 1.01 and a beta of 0.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $213.18. The firm's 50-day moving average is $199.59 and its 200-day moving average is $197.04.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly 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 net margin of 7.28% and a return on equity of 28.20%. The company had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter last year, the company earned $5.13 earnings per share. Allstate's revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that The Allstate Co. will post 18.74 EPS for the current fiscal year.

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

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Monday, June 9th. Allstate's dividend payout ratio (DPR) is presently 27.32%.

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.