Park Avenue Securities LLC Buys 1,348 Shares of The Allstate Corporation $ALL

Key Points

• Park Avenue Securities LLC increased its stake in The Allstate Corporation by 13.3%, now holding 11,511 shares valued at approximately $2.3 million.
• Allstate's recent earnings report revealed a significant earnings per share of $5.94, substantially exceeding the consensus estimate of $3.20, alongside a revenue of $15.05 billion.
• The company declared a quarterly dividend of $1.00 per share, leading to an annualized dividend of $4.00 and a yield of 1.9% for stockholders.

Park Avenue Securities LLC lifted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 13.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,511 shares of the insurance provider's stock after purchasing an additional 1,348 shares during the quarter. Park Avenue Securities LLC's holdings in Allstate were worth $2,317,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ALL. Price T Rowe Associates Inc. MD boosted its position in shares of Allstate by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after acquiring an additional 2,374,684 shares during the last quarter. Boston Partners raised its stake in Allstate by 613.9% during the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after purchasing an additional 2,134,893 shares in the last quarter. GAMMA Investing LLC lifted its position in Allstate by 25,026.1% during the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after purchasing an additional 1,268,825 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Allstate by 27.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock worth $482,073,000 after buying an additional 497,982 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Allstate in the 1st quarter worth about $84,408,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

Allstate stock opened at $209.30 on Thursday. 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 stock has a market cap of $55.15 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37. The firm has a 50-day moving average of $202.41 and a two-hundred day moving average of $200.67. The Allstate Corporation has a 1 year low of $176.00 and a 1 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 for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. On average, research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

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 1.9%. Allstate's dividend payout ratio is presently 18.81%.

Analysts Set New Price Targets

Several research analysts recently commented on ALL shares. Jefferies Financial Group lifted their price target on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. UBS Group lifted their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a report on Wednesday, August 13th. Citigroup raised shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.47.

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.

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Corporation (NYSE:ALL - Free Report).

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.