Kingsview Wealth Management LLC Acquires 1,459 Shares of The Allstate Corporation (NYSE:ALL)

Kingsview Wealth Management LLC lifted its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 33.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,837 shares of the insurance provider's stock after buying an additional 1,459 shares during the quarter. Kingsview Wealth Management LLC's holdings in Allstate were worth $1,209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALL. Hughes Financial Services LLC bought a new position in Allstate in the 1st quarter worth about $28,000. Kapitalo Investimentos Ltda bought a new position in shares of Allstate in the 4th quarter worth approximately $29,000. Aster Capital Management DIFC Ltd bought a new stake in Allstate during the 4th quarter worth approximately $40,000. Mattson Financial Services LLC bought a new stake in Allstate during the 4th quarter worth approximately $44,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Allstate in the first quarter valued at $54,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALL shares. JPMorgan Chase & Co. lifted their target price on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a research note on Sunday. UBS Group upped their target price on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price target on Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley lifted their price objective on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $227.07.

Allstate Stock Performance

Shares of Allstate stock traded down $2.12 on Thursday, reaching $195.49. 376,896 shares of the company were exchanged, compared to its average volume of 1,754,306. The Allstate Corporation has a 1-year low of $162.27 and a 1-year high of $213.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $51.77 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.02 and a beta of 0.33. The company's 50-day moving average is $199.82 and its two-hundred day moving average is $196.75.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.13 earnings per share. As a group, research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.05%. Allstate's payout ratio is presently 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.