Jaffetilchin Investment Partners LLC Makes New Investment in The Allstate Corporation (NYSE:ALL)

Jaffetilchin Investment Partners LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,550 shares of the insurance provider's stock, valued at approximately $321,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in Allstate by 157.9% during the 4th 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 during the period. Norges Bank acquired a new stake in shares of Allstate during the fourth quarter worth $344,354,000. GQG Partners LLC grew its position in Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after buying an additional 1,685,694 shares during the last quarter. GAMMA Investing LLC grew its position in Allstate by 25,026.1% in the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after buying an additional 1,268,825 shares during the last quarter. Finally, Castle Hook Partners LP increased its stake in Allstate by 1,303.3% in the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after buying an additional 766,058 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

ALL has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Raymond James Financial reiterated a "strong-buy" rating and set a $250.00 target price (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Argus raised Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company cut their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Price Performance

Shares of NYSE ALL traded up $5.66 on Monday, hitting $201.42. The company's stock had a trading volume of 2,385,820 shares, compared to its average volume of 1,630,169. 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 stock has a 50 day moving average of $200.85 and a 200-day moving average of $196.52. The Allstate Corporation has a 12-month low of $157.50 and a 12-month high of $213.18. The company has a market capitalization of $53.34 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.02 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same quarter last year, the company posted $5.13 EPS. Allstate's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.99%. The ex-dividend date is Monday, June 9th. Allstate's payout ratio is 27.32%.

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.