Richard C. Young & CO. LTD. Acquires New Position in The Allstate Corporation (NYSE:ALL)

Richard C. Young & CO. LTD. acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 41,154 shares of the insurance provider's stock, valued at approximately $8,522,000.

Several other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in shares of Allstate by 30.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock worth $2,352,000 after purchasing an additional 2,643 shares during the last quarter. Richard Bernstein Advisors LLC acquired a new position in shares of Allstate during the 1st quarter worth approximately $3,341,000. Dock Street Asset Management Inc. acquired a new position in shares of Allstate during the 1st quarter worth approximately $207,000. First Citizens Bank & Trust Co. boosted its holdings in shares of Allstate by 5.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock worth $11,906,000 after purchasing an additional 2,981 shares during the last quarter. Finally, Blackstone Inc. acquired a new position in shares of Allstate during the 4th quarter worth approximately $52,053,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ALL shares. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Evercore ISI upped their price objective on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company cut their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. UBS Group boosted their target price on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley boosted their target price on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $227.07.

Allstate Stock Up 0.6%

NYSE:ALL traded up $1.19 during trading hours on Friday, hitting $194.21. The company's stock had a trading volume of 1,617,433 shares, compared to its average volume of 1,648,592. The stock has a market capitalization of $51.43 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. The stock has a fifty day moving average of $200.35 and a 200-day moving average of $196.66. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The Allstate Corporation has a 52-week low of $162.27 and a 52-week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The business had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $5.13 EPS. On average, equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio (DPR) is presently 27.32%.

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.