MBB Public Markets I LLC Invests $312,000 in The Allstate Corporation $ALL

Key Points

• MBB Public Markets I LLC invested $312,000 in The Allstate Corporation, purchasing 1,507 shares during the first quarter.
• Allstate's recent earnings report showed an EPS of $5.94, significantly exceeding analyst estimates of $3.20, with revenue also increasing by 5.8% year-over-year.
• The company has declared a quarterly dividend of $1.00 per share, reflecting an annual yield of 2.0% and a payout ratio of 18.81%.

MBB Public Markets I LLC acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,507 shares of the insurance provider's stock, valued at approximately $312,000.

Several other hedge funds have also modified their holdings of ALL. Brighton Jones LLC raised its holdings in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after acquiring an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in Allstate during the 4th quarter valued at $231,000. Jefferies Financial Group Inc. raised its holdings in Allstate by 339.6% during the 4th quarter. Jefferies Financial Group Inc. now owns 7,609 shares of the insurance provider's stock valued at $1,467,000 after buying an additional 5,878 shares during the period. Janus Henderson Group PLC raised its holdings in Allstate by 4.7% during the 4th quarter. Janus Henderson Group PLC now owns 33,832 shares of the insurance provider's stock valued at $6,523,000 after buying an additional 1,517 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Allstate by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,137 shares of the insurance provider's stock valued at $5,039,000 after buying an additional 1,206 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 1.0%

Allstate stock traded down $2.07 during mid-day trading on Friday, hitting $200.40. The company's stock had a trading volume of 1,136,388 shares, compared to its average volume of 1,202,326. The company has a 50 day moving average of $200.99 and a 200-day moving average of $200.37. The stock has a market cap of $52.81 billion, a PE ratio of 9.42, a P/E/G ratio of 0.81 and a beta of 0.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the prior year, the company earned $1.61 EPS. The business's revenue was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. 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 2.0%. Allstate's dividend payout ratio is presently 18.81%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price target (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Morgan Stanley increased their price target on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Jefferies Financial Group increased their price target on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Citigroup upgraded Allstate to a "hold" rating in a report on Wednesday, August 13th. Finally, Cantor Fitzgerald raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $231.21.

Allstate Company 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.