Vaughan Nelson Investment Management L.P. Raises Holdings in The Allstate Corporation (NYSE:ALL)

Vaughan Nelson Investment Management L.P. lifted its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 191.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 254,247 shares of the insurance provider's stock after acquiring an additional 166,870 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.10% of Allstate worth $52,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Allstate during the 4th quarter worth approximately $231,000. Stenger Family Office LLC acquired a new stake in Allstate in the 4th quarter valued at approximately $439,000. Leavell Investment Management Inc. raised its position in Allstate by 17.2% in the fourth quarter. Leavell Investment Management Inc. now owns 1,837 shares of the insurance provider's stock valued at $356,000 after purchasing an additional 269 shares during the period. Finally, Avestar Capital LLC lifted its stake in Allstate by 19.5% during the fourth quarter. Avestar Capital LLC now owns 1,275 shares of the insurance provider's stock worth $247,000 after purchasing an additional 208 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALL has been the topic of several research reports. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 target price (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Morgan Stanley upped their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, Evercore ISI upped their price objective on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Stock Performance

Allstate stock traded down $3.17 during midday trading on Wednesday, hitting $195.03. 1,868,607 shares of the company's stock were exchanged, compared to its average volume of 1,609,490. 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 stock has a market cap of $51.65 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.04 and a beta of 0.35. The Allstate Corporation has a 12-month low of $156.87 and a 12-month high of $213.18. The firm's 50 day simple moving average is $200.62 and its 200 day simple moving average is $196.81.

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

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's dividend payout ratio is presently 27.32%.

Allstate announced that its board has approved a stock buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

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.