Pallas Capital Advisors LLC Invests $749,000 in The Allstate Co. (NYSE:ALL)

Pallas Capital Advisors LLC bought a new stake in shares of The Allstate Co. (NYSE:ALL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,618 shares of the insurance provider's stock, valued at approximately $749,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Allstate by 169.4% in the 1st quarter. Farther Finance Advisors LLC now owns 5,615 shares of the insurance provider's stock worth $1,165,000 after acquiring an additional 3,531 shares during the last quarter. Portside Wealth Group LLC grew its holdings in Allstate by 8.4% in the 1st quarter. Portside Wealth Group LLC now owns 1,424 shares of the insurance provider's stock worth $295,000 after acquiring an additional 110 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Allstate by 5.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock worth $11,906,000 after acquiring an additional 2,981 shares during the last quarter. OLD National Bancorp IN grew its holdings in Allstate by 70.4% in the 1st quarter. OLD National Bancorp IN now owns 4,875 shares of the insurance provider's stock worth $1,009,000 after acquiring an additional 2,014 shares during the last quarter. Finally, KMG Fiduciary Partners LLC grew its holdings in Allstate by 3.1% in the 1st quarter. KMG Fiduciary Partners LLC now owns 17,974 shares of the insurance provider's stock worth $3,722,000 after acquiring an additional 540 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

ALL stock traded down $1.71 during midday trading on Friday, reaching $198.61. 1,330,201 shares of the company's stock traded hands, compared to its average volume of 1,615,242. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $213.18. The stock has a market cap of $52.60 billion, a P/E ratio of 11.69, a PEG ratio of 1.01 and a beta of 0.35. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock's 50-day moving average is $200.21 and its 200 day moving average is $196.94.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. During the same period in the prior year, the company posted $5.13 earnings per share. The firm's quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 2.01%. Allstate's dividend payout ratio is currently 27.32%.

Allstate announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price 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. Barclays cut their target price on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company cut their target price on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $250.00 target price (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $225.20.

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.