Mezzasalma Advisors LLC Has $2.30 Million Position in The Allstate Corporation (NYSE:ALL)

Mezzasalma Advisors LLC raised its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 36.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,109 shares of the insurance provider's stock after purchasing an additional 2,991 shares during the quarter. Mezzasalma Advisors LLC's holdings in Allstate were worth $2,300,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $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 $344,354,000. GQG Partners LLC grew its holdings in shares of Allstate by 64.1% during the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 valued at $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Finally, Castle Hook Partners LP grew its holdings in shares of Allstate by 1,303.3% during the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after acquiring an additional 766,058 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on ALL shares. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Evercore ISI boosted their price target on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Morgan Stanley boosted their price target on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Raymond James Financial reiterated a "strong-buy" rating and issued a $250.00 price objective (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.

Allstate Stock Performance

ALL stock traded down $2.51 during mid-day trading on Thursday, reaching $195.68. 3,093,583 shares of the stock traded hands, compared to its average volume of 1,612,286. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The Allstate Corporation has a 52 week low of $157.48 and a 52 week high of $213.18. The business has a 50-day moving average of $200.67 and a two-hundred day moving average of $196.80. The firm has a market capitalization of $51.82 billion, a PE ratio of 13.37, a P/E/G ratio of 1.02 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter last year, the company earned $5.13 earnings per share. The firm's revenue was up 7.8% on a year-over-year basis. As a group, equities analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's dividend payout ratio (DPR) is 27.32%.

Allstate announced that its board has initiated a share buyback plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.