LVW Advisors LLC Takes $248,000 Position in The Allstate Co. (NYSE:ALL)

LVW Advisors LLC acquired a new position in The Allstate Co. (NYSE:ALL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,198 shares of the insurance provider's stock, valued at approximately $248,000.

Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in Allstate by 157.9% in 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 in the last quarter. Norges Bank purchased a new position in shares of Allstate during the 4th quarter valued at approximately $344,354,000. GQG Partners LLC boosted its position in Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock worth $832,181,000 after purchasing an additional 1,685,694 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after buying an additional 1,268,825 shares during the period. Finally, Strategic Financial Concepts LLC increased its stake in shares of Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock worth $215,757,000 after purchasing an additional 1,111,748 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of Allstate stock traded down $0.39 on Thursday, hitting $206.41. 999,882 shares of the company traded hands, compared to its average volume of 1,604,894. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $213.18. The business has a 50-day simple moving average of $199.59 and a 200 day simple moving average of $197.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The stock has a market capitalization of $54.66 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results 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). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The firm had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same period in the prior year, the company posted $5.13 EPS. The company's revenue was up 7.8% compared to the same quarter last year. Research analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 1.94%. Allstate's dividend payout ratio is currently 27.32%.

Allstate declared that its board has approved a stock repurchase program on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Barclays reduced their price target on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $225.20.

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.