Sciencast Management LP Buys New Position in The Allstate Corporation $ALL

Key Points

• Sciencast Management LP acquired a new stake in The Allstate Corporation, purchasing 13,009 shares valued at approximately $2.7 million in the first quarter.
• Analyst ratings for Allstate show a consensus of moderate buy, with an average price target of $231.21, reflecting positive sentiment in the market.
• Allstate recently reported earnings per share of $5.94 for the last quarter, significantly exceeding analysts' expectations of $3.20.

Sciencast Management LP purchased a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,009 shares of the insurance provider's stock, valued at approximately $2,694,000.

Other hedge funds have also recently made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in shares of Allstate during the first quarter valued at about $28,000. Meeder Asset Management Inc. boosted its stake in shares of Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Allstate during the first quarter worth about $43,000. Mattson Financial Services LLC bought a new position in shares of Allstate during the fourth quarter worth about $44,000. Finally, 1 North Wealth Services LLC bought a new position in shares of Allstate during the first quarter worth about $51,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. BMO Capital Markets lifted their target price on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Barclays reiterated an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a report on Wednesday, August 13th. Finally, Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $231.21.

Allstate Stock Down 1.0%

Shares of NYSE:ALL traded down $2.07 during mid-day trading on Friday, hitting $200.40. 1,136,169 shares of the company traded hands, compared to its average volume of 1,688,642. The stock has a market cap of $52.81 billion, a P/E ratio of 9.42, a P/E/G ratio of 0.80 and a beta of 0.37. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76. The stock has a 50-day moving average price of $200.92 and a two-hundred day moving average price of $200.30.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.Allstate's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.61 earnings per share. On average, equities research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's payout ratio is presently 18.81%.

About Allstate

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.