Heartland Bank & Trust Co Purchases New Position in The Allstate Corporation (NYSE:ALL)

Heartland Bank & Trust Co acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,713 shares of the insurance provider's stock, valued at approximately $562,000.

Several other hedge funds have also recently bought and sold shares of ALL. Bank of America Corp DE raised its stake in Allstate by 157.9% during 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 acquiring an additional 4,035,629 shares in the last quarter. Norges Bank acquired a new position in Allstate during the fourth quarter worth $344,354,000. GQG Partners LLC raised its stake in Allstate by 64.1% during the fourth 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 raised its stake 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 worth $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Finally, Castle Hook Partners LP raised its stake 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 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 and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ALL shares. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. William Blair started coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Wells Fargo & Company decreased their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Barclays decreased their target price on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. increased their target price on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Trading Down 0.1%

Shares of NYSE ALL traded down $0.20 during mid-day trading on Friday, hitting $195.47. The company's stock had a trading volume of 3,101,538 shares, compared to its average volume of 1,615,448. The stock has a market cap of $51.76 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 1.02 and a beta of 0.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The Allstate Corporation has a one year low of $157.48 and a one year high of $213.18. The company's fifty day simple moving average is $200.82 and its 200-day simple moving average is $196.58.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results 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). The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $5.13 EPS. On average, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

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 $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.05%. Allstate's dividend payout ratio is 27.32%.

Allstate announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

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.