Focus Partners Advisor Solutions LLC Acquires 2,656 Shares of The Allstate Corporation $ALL

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in The Allstate Corporation by 185.7%, owning 4,086 shares valued at $846,000 as of their latest filing.
• The Allstate Corporation reported earnings of $5.94 per share for the quarter, significantly exceeding analysts' expectations of $3.20.
• Allstate announced a quarterly dividend of $1.00 payable on October 1st, translating to an annualized yield of 2.0%.

Focus Partners Advisor Solutions LLC grew its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 185.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,086 shares of the insurance provider's stock after buying an additional 2,656 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Allstate were worth $846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hughes Financial Services LLC acquired a new position in Allstate in the first quarter worth approximately $28,000. Meeder Asset Management Inc. increased its position in Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after purchasing an additional 99 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Allstate in the first quarter worth about $43,000. Mattson Financial Services LLC acquired a new position in shares of Allstate during the 4th quarter worth about $44,000. Finally, Wayfinding Financial LLC bought a new position in shares of Allstate during the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. William Blair initiated coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $260.00 price objective (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Jefferies Financial Group boosted their target price on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Finally, Cantor Fitzgerald raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $231.21.

Allstate Stock Down 0.6%

ALL traded down $1.12 during trading hours on Monday, reaching $200.41. 1,416,808 shares of the stock traded hands, compared to its average volume of 1,697,456. The company has a market cap of $52.81 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.81 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. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $214.76. The firm's fifty day simple moving average is $200.72 and its two-hundred day simple moving average is $200.11.

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

Allstate Announces Dividend

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

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.