Invst LLC Makes New $1.20 Million Investment in The Allstate Corporation $ALL

Key Points

• Invst LLC has made a significant $1.20 million investment in The Allstate Corporation, acquiring 5,803 shares in the first quarter.
• The Allstate Corporation reported better-than-expected earnings of $5.94 EPS, surpassing analysts' estimates of $3.20, despite its revenue falling short of expectations.
• Allstate announced a quarterly dividend of $1.00 per share, reflecting an annualized dividend of $4.00 and a yield of 2.0% for investors.

Invst LLC acquired a new position in The Allstate Corporation (NYSE:ALL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,803 shares of the insurance provider's stock, valued at approximately $1,202,000.

Other institutional investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in Allstate in the first quarter worth $28,000. Meeder Asset Management Inc. raised its holdings in Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after purchasing an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in Allstate in the first quarter worth $43,000. Mattson Financial Services LLC bought a new position in Allstate in the fourth quarter worth $44,000. Finally, 1 North Wealth Services LLC bought a new position in Allstate in the first quarter worth $51,000. Institutional investors own 76.47% of the company's stock.

Allstate Trading Up 1.2%

Allstate stock opened at $202.51 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76. The stock has a market capitalization of $53.36 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37. The business's fifty day moving average is $200.92 and its 200 day moving average is $200.30.

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

Allstate Announces Dividend

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 given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's dividend payout ratio (DPR) is 18.81%.

Wall Street Analyst Weigh In

ALL has been the subject of a number of research reports. Barclays reiterated an "underweight" rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Jefferies Financial Group raised their price target on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Wells Fargo & Company set a $202.00 price target on Allstate and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods raised their price target on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $231.21.

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.

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Corporation (NYSE:ALL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.