LMG Wealth Partners LLC Buys New Stake in The Allstate Corporation (NYSE:ALL)

LMG Wealth Partners LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,539 shares of the insurance provider's stock, valued at approximately $4,460,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in Allstate by 13.1% during the 1st quarter. Victory Capital Management Inc. now owns 418,744 shares of the insurance provider's stock worth $86,709,000 after purchasing an additional 48,495 shares during the period. Bridgewater Advisors Inc. bought a new stake in shares of Allstate in the first quarter valued at about $407,000. Larson Financial Group LLC lifted its stake in Allstate by 7.8% in the first quarter. Larson Financial Group LLC now owns 1,820 shares of the insurance provider's stock worth $377,000 after acquiring an additional 132 shares during the period. Wealthfront Advisers LLC grew its holdings in Allstate by 3.9% during the 1st quarter. Wealthfront Advisers LLC now owns 39,131 shares of the insurance provider's stock worth $8,103,000 after acquiring an additional 1,475 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Allstate by 10.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 7,224 shares of the insurance provider's stock valued at $1,496,000 after purchasing an additional 668 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

Allstate stock traded up $3.20 during mid-day trading on Wednesday, reaching $195.63. 1,448,218 shares of the company traded hands, compared to its average volume of 1,644,701. The firm's fifty day moving average is $200.71 and its two-hundred day moving average is $196.66. The company has a market capitalization of $51.81 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.99 and a beta of 0.33. The Allstate Corporation has a fifty-two week low of $162.27 and a fifty-two week high of $213.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40.

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

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio (DPR) is 27.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. William Blair initiated coverage on shares of Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating on the stock. Raymond James Financial reaffirmed 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. Wall Street Zen lowered Allstate from a "buy" rating to a "hold" rating in a research report on Saturday. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Finally, Barclays lifted their target price on Allstate from $172.00 to $188.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $227.07.

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.