HB Wealth Management LLC Buys 1,544 Shares of The Allstate Corporation (NYSE:ALL)

HB Wealth Management LLC raised its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,730 shares of the insurance provider's stock after purchasing an additional 1,544 shares during the quarter. HB Wealth Management LLC's holdings in Allstate were worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ALL. Bank of America Corp DE lifted 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 buying an additional 4,035,629 shares in the last quarter. GAMMA Investing LLC grew its position in Allstate by 25,026.1% during the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares during the last quarter. Castle Hook Partners LP grew its position in Allstate by 1,303.3% during the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after acquiring an additional 766,058 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new position in shares of Allstate in the fourth quarter worth approximately $143,165,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Allstate by 261.6% in the fourth quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock worth $160,575,000 after purchasing an additional 602,533 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ALL shares. UBS Group lifted their price target on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 price objective (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Finally, Barclays lifted their price objective on Allstate from $172.00 to $188.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $227.07.

Allstate Stock Down 1.9%

NYSE ALL opened at $191.93 on Tuesday. The stock's 50 day moving average is $198.98 and its 200 day moving average is $197.03. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The Allstate Corporation has a 12 month low of $168.29 and a 12 month high of $213.18. The stock has a market cap of $50.83 billion, a PE ratio of 13.11, a P/E/G ratio of 1.01 and a beta of 0.33.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data 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 24.62% and a net margin of 6.19%. The firm had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. During the same period last year, the company earned $5.13 earnings per share. The firm's revenue was up 7.8% on a year-over-year basis. Research analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 2.08%. Allstate's payout ratio is presently 27.32%.

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.

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