Janney Montgomery Scott LLC Increases Holdings in The Allstate Corporation (NYSE:ALL)

Janney Montgomery Scott LLC raised its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 21.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,096 shares of the insurance provider's stock after acquiring an additional 11,820 shares during the quarter. Janney Montgomery Scott LLC's holdings in Allstate were worth $13,687,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALL. Los Angeles Capital Management LLC grew its position in shares of Allstate by 10.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock worth $98,065,000 after buying an additional 48,382 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Allstate by 56.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider's stock worth $36,012,000 after buying an additional 67,032 shares in the last quarter. CIBC Asset Management Inc boosted its position in Allstate by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 40,579 shares of the insurance provider's stock valued at $7,823,000 after purchasing an additional 1,828 shares in the last quarter. Keybank National Association OH boosted its position in Allstate by 1.7% during the fourth quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider's stock valued at $66,489,000 after purchasing an additional 5,786 shares in the last quarter. Finally, Blackstone Inc. bought a new stake in Allstate during the fourth quarter valued at about $52,053,000. Institutional investors own 76.47% of the company's stock.

Analysts Set New Price Targets

ALL has been the topic of a number of recent research reports. Barclays dropped their price objective on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Wells Fargo & Company dropped their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Stock Down 0.1%

NYSE ALL traded down $0.20 during 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 company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $51.76 billion, a PE ratio of 13.35, a P/E/G ratio of 1.02 and a beta of 0.35. The business's 50 day simple moving average is $200.82 and its 200-day simple moving average is $196.58. The Allstate Corporation has a fifty-two week low of $157.48 and a fifty-two week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data 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). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The firm had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter in the previous year, the business earned $5.13 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Monday, June 9th. Allstate's payout ratio is 27.32%.

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.