The Allstate Corporation (NYSE:ALL) Stock Position Raised by L & S Advisors Inc

Key Points

• L & S Advisors Inc has increased its stake in The Allstate Corporation by 110.8%, acquiring an additional 17,111 shares in the first quarter, bringing their total holdings to 32,548 shares valued at $6.74 million.
• Allstate's recent quarterly earnings report showed a significant earnings per share (EPS) of $5.94, exceeding the consensus estimate by $2.74, while revenues were $15.05 billion, below analyst expectations.
• The company has declared a quarterly dividend of $1.00 per share, set to be paid to shareholders on October 1st, reflecting an annualized dividend yield of 2.0%.

L & S Advisors Inc increased its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 110.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,548 shares of the insurance provider's stock after acquiring an additional 17,111 shares during the quarter. L & S Advisors Inc's holdings in Allstate were worth $6,740,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in shares of Allstate in the 1st quarter valued at $28,000. Kapitalo Investimentos Ltda acquired a new position in shares of Allstate in the 4th quarter valued at $29,000. Meeder Asset Management Inc. boosted its holdings in shares of Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Allstate in the 4th quarter valued at $40,000. Finally, Mattson Financial Services LLC acquired a new position in shares of Allstate in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Up 1.0%

Allstate stock traded up $2.00 during midday trading on Tuesday, hitting $205.03. 385,669 shares of the stock were exchanged, compared to its average volume of 1,767,470. The company has a 50 day moving average price of $198.36 and a two-hundred day moving average price of $197.41. The firm has a market cap of $54.03 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.90 and a beta of 0.35. The Allstate Corporation has a 1 year low of $169.20 and a 1 year high of $213.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (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 firm had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Allstate's revenue for the quarter 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 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. 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 (DPR) is currently 18.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALL. UBS Group lifted their price target on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wells Fargo & Company raised their target price on shares of Allstate from $197.00 to $202.00 and gave the company an "equal weight" rating in a research note on Tuesday. Morgan Stanley raised their target price on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday. Evercore ISI raised their target price on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Barclays reissued an "underweight" rating and issued 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 sell rating, one has given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has an average rating of "Moderate Buy" and an average target price of $229.40.

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.