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

Schechter Investment Advisors LLC purchased a new position in The Allstate Corporation (NYSE:ALL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,239 shares of the insurance provider's stock, valued at approximately $671,000.

Several other institutional investors have also modified their holdings of the business. New York State Common Retirement Fund grew its stake in Allstate by 5.1% during the 1st quarter. New York State Common Retirement Fund now owns 168,070 shares of the insurance provider's stock worth $34,802,000 after purchasing an additional 8,100 shares in the last quarter. Arizona State Retirement System grew its position in shares of Allstate by 2.8% during the first quarter. Arizona State Retirement System now owns 77,712 shares of the insurance provider's stock worth $16,092,000 after buying an additional 2,090 shares in the last quarter. Greater Midwest Financial Group LLC grew its position in shares of Allstate by 3.6% during the first quarter. Greater Midwest Financial Group LLC now owns 7,761 shares of the insurance provider's stock worth $1,607,000 after buying an additional 273 shares in the last quarter. Genus Capital Management Inc. grew its position in shares of Allstate by 107.3% during the first quarter. Genus Capital Management Inc. now owns 1,645 shares of the insurance provider's stock worth $341,000 after buying an additional 24,200 shares in the last quarter. Finally, Round Rock Advisors LLC acquired a new position in Allstate during the 1st quarter worth approximately $217,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Up 1.6%

Shares of NYSE:ALL opened at $196.35 on Tuesday. The Allstate Corporation has a 1-year low of $162.27 and a 1-year high of $213.18. The stock has a market cap of $52.00 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.00 and a beta of 0.33. The firm has a fifty day moving average price of $200.91 and a 200 day moving average price of $196.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 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). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same quarter last year, the company posted $5.13 EPS. Allstate's quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 9th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Monday, June 9th. Allstate's dividend payout ratio is presently 27.32%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ALL shares. Barclays boosted their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Evercore ISI boosted their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Morgan Stanley upped their price objective on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. William Blair initiated coverage on Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating for the company. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $250.00 price objective (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.07.

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.

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