Integrity Alliance LLC. Buys New Position in The Allstate Corporation $ALL

Key Points

• Integrity Alliance LLC has acquired 5,820 shares of The Allstate Corporation, valued at approximately $1,205,000, indicating increased institutional interest in the insurance provider.
• Several analysts have raised their price targets for Allstate, with the average target now at $231.21, reflecting a consensus rating of "Moderate Buy".
• The Allstate Corporation recently reported earnings of $5.94 per share, significantly exceeding estimates and showcasing a revenue of $15.05 billion for the quarter.

Integrity Alliance LLC. purchased a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,820 shares of the insurance provider's stock, valued at approximately $1,205,000.

A number of other institutional investors also recently made changes to their positions in ALL. Hughes Financial Services LLC acquired a new stake in shares of Allstate during the first quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its stake in Allstate by 113.8% during the 1st 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 during the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Allstate in the 1st quarter worth about $43,000. Mattson Financial Services LLC acquired a new stake in shares of Allstate in the 4th quarter valued at about $44,000. Finally, 1 North Wealth Services LLC bought a new position in shares of Allstate during the first quarter worth about $51,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of Allstate stock traded down $2.07 during trading on Friday, hitting $200.40. 1,136,388 shares of the stock were exchanged, compared to its average volume of 1,206,671. 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 12 month low of $176.00 and a 12 month high of $214.76. The stock's fifty day moving average is $200.99 and its 200 day moving average is $200.45. The stock has a market cap of $52.81 billion, a PE ratio of 9.42, a P/E/G ratio of 0.80 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 for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period last year, the firm posted $1.61 EPS. Allstate's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. William Blair started coverage on Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating on the stock. Citigroup raised shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. Finally, Barclays reiterated an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.21.

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.