Resurgent Financial Advisors LLC Makes New Investment in The Allstate Corporation (NYSE:ALL)

Resurgent Financial Advisors LLC acquired a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,658 shares of the insurance provider's stock, valued at approximately $343,000.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Allstate by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock valued at $6,291,783,000 after purchasing an additional 389,426 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Allstate by 2.4% during the fourth 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 purchasing an additional 218,771 shares during the period. Bank of America Corp DE raised its stake in shares of Allstate by 157.9% during the fourth 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 purchasing an additional 4,035,629 shares during the period. Geode Capital Management LLC raised its stake in shares of Allstate by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider's stock valued at $1,236,060,000 after purchasing an additional 191,147 shares during the period. Finally, GQG Partners LLC raised its stake in shares of Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after purchasing an additional 1,685,694 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL traded up $1.19 during midday trading on Friday, hitting $194.21. 1,617,433 shares of the stock traded hands, compared to its average volume of 1,646,674. The Allstate Corporation has a 1-year low of $162.27 and a 1-year high of $213.18. The firm has a market capitalization of $51.43 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The business's 50 day moving average price is $200.18 and its two-hundred day moving average price is $196.69.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share 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 company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the prior year, the firm earned $5.13 earnings per share. Allstate's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio is currently 27.32%.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Barclays raised their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. William Blair initiated coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating for the company. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $227.07.

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.