GDS Wealth Management Raises Holdings in The Allstate Corporation $ALL

Key Points

• GDS Wealth Management increased its stake in The Allstate Corporation by 3.5% during the 1st quarter, now holding 92,352 shares valued at approximately $19.1 million.
• The stock is currently rated as a Moderate Buy by analysts, with a consensus target price of $229.33.
• Allstate has announced a quarterly dividend of $1.00 per share, translating to an annualized yield of 1.9%, with the payment date set for October 1st.

GDS Wealth Management boosted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,352 shares of the insurance provider's stock after purchasing an additional 3,119 shares during the quarter. Allstate makes up 1.6% of GDS Wealth Management's holdings, making the stock its 17th largest position. GDS Wealth Management's holdings in Allstate were worth $19,123,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ALL. Hughes Financial Services LLC purchased a new position in Allstate during the first quarter worth approximately $28,000. Kapitalo Investimentos Ltda purchased a new position in shares of Allstate in the fourth quarter valued at approximately $29,000. Meeder Asset Management Inc. lifted its position in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Allstate in the first quarter valued at approximately $43,000. Finally, Mattson Financial Services LLC purchased a new position in shares of Allstate in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Trading Down 0.7%

Shares of NYSE ALL traded down $1.3910 during trading on Friday, reaching $205.1590. The stock had a trading volume of 1,278,371 shares, compared to its average volume of 1,547,023. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $214.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The business's 50-day moving average price is $199.16 and its 200-day moving average price is $199.05. The company has a market cap of $54.06 billion, a P/E ratio of 9.65, a PEG ratio of 0.84 and a beta of 0.35.

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

Allstate Dividend Announcement

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

Wall Street Analysts Forecast Growth

ALL has been the topic of several research reports. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Raymond James Financial restated a "strong-buy" rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Barclays reissued an "underweight" rating and set a $198.00 price objective (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Finally, Evercore ISI boosted their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $230.73.

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.