The Allstate Corporation $ALL Shares Acquired by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC increased its shareholding in The Allstate Corporation by 136.6% during the second quarter, owning 2,562 shares worth $516,000.
• Allstate reported $5.94 earnings per share for the latest quarter, significantly surpassing analysts' expectations of $3.20, alongside a revenue of $15.05 billion.
• The company announced a quarterly dividend of $1.00 per share, reflecting an annualized yield of 1.9% and a payout ratio of 18.81%.

GC Wealth Management RIA LLC raised its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 136.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,562 shares of the insurance provider's stock after purchasing an additional 1,479 shares during the period. GC Wealth Management RIA LLC's holdings in Allstate were worth $516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Brighton Jones LLC boosted its stake in Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new position in Allstate during the 4th quarter valued at about $231,000. Versant Capital Management Inc boosted its stake in Allstate by 102.6% during the 1st quarter. Versant Capital Management Inc now owns 778 shares of the insurance provider's stock valued at $161,000 after purchasing an additional 394 shares during the period. NBC Securities Inc. boosted its stake in Allstate by 129,200.0% during the 1st quarter. NBC Securities Inc. now owns 2,586 shares of the insurance provider's stock valued at $535,000 after purchasing an additional 2,584 shares during the period. Finally, LVW Advisors LLC acquired a new position in Allstate during the 1st quarter valued at about $248,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 1.5%

NYSE ALL opened at $214.50 on Wednesday. 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 company's 50 day simple moving average is $203.83 and its 200 day simple moving average is $200.95. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $215.70. The company has a market capitalization of $56.52 billion, a P/E ratio of 10.08, a PEG ratio of 0.83 and a beta of 0.37.

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

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. Allstate's payout ratio is currently 18.81%.

Wall Street Analyst Weigh In

ALL has been the subject of a number of analyst reports. BMO Capital Markets boosted their target price on shares of Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Citigroup upgraded shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Barclays restated an "underweight" rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Finally, Wolfe Research upgraded shares of Allstate to a "strong-buy" rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $231.38.

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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