Meyer Handelman Co. Buys 3,281 Shares of The Allstate Corporation $ALL

Key Points

• Meyer Handelman Co. increased its stake in The Allstate Corporation by 1.7%, acquiring an additional 3,281 shares, which now makes Allstate about 1.3% of its investment portfolio.
• Analysts are optimistic about Allstate, with several firms raising their price targets and giving ratings ranging from "Strong Buy" to "Hold," positioning the company's stock with an average target price of $231.47.
• Allstate recently announced a quarterly dividend of $1.00 per share, contributing to an annualized dividend yield of 1.9% for stockholders of record.

Meyer Handelman Co. grew its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,802 shares of the insurance provider's stock after purchasing an additional 3,281 shares during the period. Allstate makes up about 1.3% of Meyer Handelman Co.'s portfolio, making the stock its 24th biggest position. Meyer Handelman Co. owned about 0.07% of Allstate worth $38,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ALL. Arlington Trust Co LLC boosted its stake in Allstate by 261.8% during the second 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 purchased a new stake in shares of Allstate in the first quarter valued at $28,000. Meeder Asset Management Inc. lifted 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 worth $39,000 after acquiring an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Allstate during the 1st quarter worth about $43,000. Finally, Mattson Financial Services LLC bought a new position in Allstate during the 4th quarter valued at about $44,000. Institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several analyst reports. Citigroup raised shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Morgan Stanley increased their price target on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Jefferies Financial Group raised their price target on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods upped their price objective on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, UBS Group lifted their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and an average target price of $231.47.

Allstate Price Performance

Shares of ALL stock opened at $209.97 on Friday. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $214.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $202.75 and a two-hundred day simple moving average of $200.75. The stock has a market capitalization of $55.33 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 0.83 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last released 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. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm 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 $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio 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.

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