Guggenheim Capital LLC Buys 4,584 Shares of The Allstate Corporation $ALL

Key Points

• Guggenheim Capital LLC increased its position in The Allstate Corporation by 11%, bringing their total holdings to 46,196 shares valued at approximately $9.57 million.
• Allstate reported earnings of $5.94 per share for the last quarter, exceeding expectations of $3.20, along with a year-over-year revenue increase of 5.8%.
• The company declared a quarterly dividend of $1.00, reflecting an annualized yield of 2.0%, with a dividend payout ratio of 18.81%.

Guggenheim Capital LLC grew its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 11.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 46,196 shares of the insurance provider's stock after acquiring an additional 4,584 shares during the period. Guggenheim Capital LLC's holdings in Allstate were worth $9,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALL. Hughes Financial Services LLC purchased a new position in shares of Allstate during the 1st quarter worth approximately $28,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Allstate in the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. grew its stake in shares of Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after buying an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Allstate in the 1st quarter worth approximately $43,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of Allstate in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. BMO Capital Markets upped their price target on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Keefe, Bruyette & Woods upped their price target on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Barclays restated an "underweight" rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $230.73.

Allstate Stock Performance

Shares of NYSE ALL traded down $0.13 during midday trading on Friday, hitting $203.63. 993,048 shares of the stock traded hands, compared to its average volume of 1,240,477. The firm has a 50-day moving average of $199.81 and a two-hundred day moving average of $199.57. The firm has a market capitalization of $53.66 billion, a P/E ratio of 9.57, a PEG ratio of 0.82 and a beta of 0.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly 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. The firm had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. On average, equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio is presently 18.81%.

Allstate Company 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.