Means Investment CO. Inc. Takes $362,000 Position in The Allstate Corporation $ALL

Key Points

• Means Investment CO. Inc. has acquired a new position in The Allstate Corporation, purchasing 1,797 shares valued at approximately $362,000 during the 2nd quarter.
• Analysts are optimistic about Allstate's future performance, with Raymond James Financial raising its price target to $260.00 and maintaining a "strong-buy" rating.
• Allstate recently reported $5.94 earnings per share, significantly above analyst estimates, despite revenue falling short at $15.05 billion.

Means Investment CO. Inc. acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,797 shares of the insurance provider's stock, valued at approximately $362,000.

Several other hedge funds have also added to or reduced their stakes in ALL. Arlington Trust Co LLC raised its stake in Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock worth $25,000 after buying an additional 89 shares during the period. Hughes Financial Services LLC acquired a new stake in Allstate during the 1st quarter worth $28,000. Hilltop National Bank acquired a new stake in Allstate during the 2nd quarter worth $34,000. Meeder Asset Management Inc. raised its stake in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after buying an additional 99 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in Allstate during the 1st quarter worth $43,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on ALL shares. Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 price objective (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Wells Fargo & Company set a $202.00 target price on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Evercore ISI set a $233.00 price target on Allstate and gave the company an "in-line" rating in a research note on Wednesday, October 1st. Finally, Cantor Fitzgerald raised Allstate to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.50.

Allstate Price Performance

Shares of NYSE ALL opened at $205.59 on Friday. The stock has a market capitalization of $54.18 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.79 and a beta of 0.38. The business has a 50-day moving average of $206.06 and a 200-day moving average of $201.07. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70.

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 for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.Allstate's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. As a group, sell-side analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th were issued a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate's dividend payout ratio (DPR) is presently 18.81%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.