Voleon Capital Management LP Has $4.80 Million Position in The Allstate Corporation $ALL

Key Points

• Voleon Capital Management LP increased its stake in The Allstate Corporation by 48.4% during Q1, holding a total of 23,159 shares valued at approximately $4.8 million.
• Several hedge funds also adjusted their positions in Allstate, with Brighton Jones LLC boosting its holdings by 60.2% in the previous quarter.
• Allstate's recent quarterly earnings report exceeded analysts' expectations, reporting $5.94 EPS against a consensus estimate of $3.20.

Voleon Capital Management LP boosted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 48.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,159 shares of the insurance provider's stock after buying an additional 7,551 shares during the quarter. Voleon Capital Management LP's holdings in Allstate were worth $4,796,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC boosted its stake in Allstate by 2.4% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 3,224 shares of the insurance provider's stock valued at $671,000 after buying an additional 75 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Allstate by 27.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock worth $482,073,000 after purchasing an additional 497,982 shares in the last quarter. Teza Capital Management LLC acquired a new position in Allstate in the first quarter worth $427,000. UniSuper Management Pty Ltd boosted its stake in Allstate by 1.8% in the first quarter. UniSuper Management Pty Ltd now owns 21,415 shares of the insurance provider's stock worth $4,434,000 after purchasing an additional 379 shares in the last quarter. Finally, Scientech Research LLC boosted its stake in Allstate by 5.6% in the first quarter. Scientech Research LLC now owns 5,445 shares of the insurance provider's stock worth $1,127,000 after purchasing an additional 290 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Trading Down 1.0%

Shares of Allstate stock traded down $2.07 during trading hours on Friday, hitting $200.40. The company's stock had a trading volume of 1,136,169 shares, compared to its average volume of 1,688,642. 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 of $200.92 and a 200 day moving average of $200.30. The company has a market capitalization of $52.81 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results 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. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the prior year, the company earned $1.61 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. William Blair assumed coverage on Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating on the stock. BMO Capital Markets boosted their target price on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. UBS Group boosted their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Jefferies Financial Group boosted their target price on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and an average price target of $231.21.

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.