Redhawk Wealth Advisors Inc. Makes New Investment in The Allstate Co. (NYSE:ALL)

Redhawk Wealth Advisors Inc. bought a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,291 shares of the insurance provider's stock, valued at approximately $267,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Allstate by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock worth $6,291,783,000 after buying an additional 389,426 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Allstate by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after acquiring an additional 218,771 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Allstate by 157.9% in 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. Geode Capital Management LLC lifted its position in shares of Allstate by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider's stock valued at $1,236,060,000 after acquiring an additional 191,147 shares in the last quarter. Finally, GQG Partners LLC lifted its position in shares of Allstate by 64.1% in 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. 76.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. increased their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Evercore ISI increased their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Barclays cut their target price on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Price Performance

Shares of NYSE:ALL traded up $4.26 during midday trading on Thursday, reaching $200.44. 1,088,921 shares of the company's stock were exchanged, compared to its average volume of 1,616,157. The company's 50 day simple moving average is $199.50 and its two-hundred day simple moving average is $197.09. The firm has a market capitalization of $53.08 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.01 and a beta of 0.35. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $213.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 28.20% and a net margin of 7.28%. Allstate's revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $5.13 earnings per share. Equities research analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's dividend payout ratio is currently 27.32%.

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.