TCI Wealth Advisors Inc. Takes Position in The Allstate Corporation $ALL

Key Points

• TCI Wealth Advisors Inc. has acquired a new stake in The Allstate Corporation, purchasing 1,313 shares worth approximately $264,000 in the second quarter.
• Allstate reported impressive earnings of $5.94 per share for the last quarter, significantly surpassing the consensus estimate of $3.20, and had a revenue of $15.05 billion.
• The company announced a quarterly dividend of $1.00, translating to an annual dividend yield of 1.9%, with a payout ratio of 18.81%.

TCI Wealth Advisors Inc. bought a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,313 shares of the insurance provider's stock, valued at approximately $264,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC boosted its holdings in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Hughes Financial Services LLC bought a new position in shares of Allstate during the 1st quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its stake in Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after buying an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Allstate in the first quarter valued at $43,000. Finally, Mattson Financial Services LLC bought a new stake in Allstate in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Price Performance

ALL opened at $209.97 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $55.33 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.83 and a beta of 0.37. The company's 50 day simple moving average is $202.75 and its 200-day simple moving average is $200.75. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 EPS. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) is presently 18.81%.

Analyst Ratings Changes

ALL has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price objective on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Barclays reiterated an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Morgan Stanley boosted their price target on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Wolfe Research upgraded shares of Allstate to a "strong-buy" rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $231.47.

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.

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