Kovitz Investment Group Partners LLC Has $7.64 Million Holdings in The Allstate Corporation $ALL

Key Points

• Kovitz Investment Group Partners LLC increased its stake in The Allstate Corporation by 61.5%, acquiring an additional 14,057 shares for a total worth of $7,644,000.
• The company reported an earnings per share (EPS) of $5.94 for the last quarter, significantly exceeding the consensus estimate of $3.20.
• Allstate declared a quarterly dividend of $1.00 per share, reflecting a 1.9% dividend yield, with the payment set for October 1st.

Kovitz Investment Group Partners LLC increased its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 61.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,914 shares of the insurance provider's stock after acquiring an additional 14,057 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Allstate were worth $7,644,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ALL. Brighton Jones LLC grew its holdings in shares of Allstate by 60.2% during the fourth 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 last quarter. Revolve Wealth Partners LLC bought a new position in Allstate in the 4th quarter worth approximately $231,000. Townsquare Capital LLC grew its holdings in Allstate by 52.3% in the 4th quarter. Townsquare Capital LLC now owns 6,278 shares of the insurance provider's stock worth $1,210,000 after buying an additional 2,155 shares in the last quarter. Mariner LLC grew its holdings in Allstate by 8.0% in the 4th quarter. Mariner LLC now owns 66,371 shares of the insurance provider's stock worth $12,796,000 after buying an additional 4,890 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Allstate by 18.5% in the 4th quarter. NewEdge Advisors LLC now owns 26,091 shares of the insurance provider's stock worth $5,030,000 after buying an additional 4,082 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL traded up $3.37 during mid-day trading on Wednesday, hitting $213.75. The company's stock had a trading volume of 907,630 shares, compared to its average volume of 1,729,282. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.55. 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 firm has a market capitalization of $56.33 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.35. The stock's 50-day moving average is $198.56 and its two-hundred day moving average is $198.71.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $16.59 billion. During the same period last year, the business earned $1.61 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current 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 issued 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 payout ratio is presently 18.81%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ALL shares. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Barclays restated an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. BMO Capital Markets upped their target price on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday. UBS Group upped 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. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $260.00 price target (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $230.73.

Allstate Company 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.