Portside Wealth Group LLC Takes $253,000 Position in The Allstate Co. (NYSE:ALL)

Portside Wealth Group LLC purchased a new position in The Allstate Co. (NYSE:ALL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,314 shares of the insurance provider's stock, valued at approximately $253,000.

Several other institutional investors have also made changes to their positions in the stock. VSM Wealth Advisory LLC purchased a new stake in Allstate in the 4th quarter worth approximately $25,000. Twin Tree Management LP acquired a new position in shares of Allstate in the fourth quarter worth $27,000. Vision Financial Markets LLC purchased a new stake in shares of Allstate during the fourth quarter worth $29,000. Hopwood Financial Services Inc. acquired a new stake in Allstate during the fourth quarter valued at $29,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Allstate in the fourth quarter valued at about $29,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Allstate Stock Down 0.2%

ALL stock opened at $206.41 on Friday. The stock has a market capitalization of $54.66 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The company has a 50-day moving average of $199.58 and a two-hundred day moving average of $197.09. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $213.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

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

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be given a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 1.94%. Allstate's dividend payout ratio is 27.32%.

Allstate declared that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is 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.

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