Ieq Capital LLC Acquires 14,856 Shares of The Allstate Corporation $ALL

Key Points

• Ieq Capital LLC significantly increased its stake in The Allstate Corporation by 87.1%, now holding 31,904 shares valued at approximately $6.6 million.
• Numerous analysts have recently upgraded Allstate's ratings, with a consensus average rating of "Moderate Buy" and a target price of $230.73.
• Allstate announced a quarterly dividend of $1.00, translating to an annual yield of 2.0% with a payout ratio of 18.81%.

Ieq Capital LLC grew its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 87.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,904 shares of the insurance provider's stock after acquiring an additional 14,856 shares during the period. Ieq Capital LLC's holdings in Allstate were worth $6,607,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Hughes Financial Services LLC purchased a new position in shares of Allstate in the first quarter valued at about $28,000. Kapitalo Investimentos Ltda purchased a new position in shares of Allstate in the fourth quarter valued at about $29,000. Meeder Asset Management Inc. lifted its position in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Allstate in the first quarter valued at about $43,000. Finally, Mattson Financial Services LLC purchased a new position in shares of Allstate in the fourth quarter valued at about $44,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALL. Wells Fargo & Company set a $202.00 target price on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Barclays reaffirmed an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Jefferies Financial Group lifted their target price on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, UBS Group lifted their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Allstate has an average rating of "Moderate Buy" and an average price target of $230.73.

Allstate Trading Down 0.1%

ALL stock traded down $0.13 during midday trading on Friday, reaching $203.63. 993,048 shares of the company traded hands, compared to its average volume of 1,240,477. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76. 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 business has a 50 day moving average of $199.81 and a 200-day moving average of $199.57. The firm has a market capitalization of $53.66 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 0.82 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Allstate's dividend payout ratio is 18.81%.

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.