Global Trust Asset Management LLC Acquires New Position in The Allstate Co. (NYSE:ALL)

Global Trust Asset Management LLC purchased a new stake in shares of The Allstate Co. (NYSE:ALL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,550 shares of the insurance provider's stock, valued at approximately $321,000.

Other hedge funds have also recently modified their holdings of the company. VSM Wealth Advisory LLC bought a new position in Allstate during the 4th quarter valued at about $25,000. Twin Tree Management LP bought a new position in shares of Allstate during the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new stake in shares of Allstate in the fourth quarter worth approximately $29,000. Hopwood Financial Services Inc. purchased a new stake in shares of Allstate in the fourth quarter worth approximately $29,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Allstate during the 4th quarter valued at $29,000. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

Shares of NYSE:ALL traded down $1.46 during trading on Tuesday, hitting $198.15. 1,060,829 shares of the stock traded hands, compared to its average volume of 1,611,377. The company has a market cap of $52.47 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.01 and a beta of 0.35. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average price of $200.53 and a two-hundred day moving average price of $196.80. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $5.13 EPS. As a group, equities analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate announced that its Board of Directors has initiated a stock 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 buy up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's payout ratio is 27.32%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALL. JPMorgan Chase & Co. increased their price objective on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. William Blair started coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating for the company. Morgan Stanley increased their price target on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and an average 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.