HighTower Advisors LLC Has $31.28 Million Holdings in The Allstate Corporation $ALL

Key Points

• HighTower Advisors LLC reduced its stake in Allstate by 1.3%, holding $31.28 million in shares after selling 2,017 shares in the first quarter.
• Allstate's stock was down 0.9%, trading at $206.76, despite the company reporting strong earnings of $5.94 per share, significantly beating analyst expectations.
• The company declared a quarterly dividend of $1.00 per share, resulting in a 1.9% yield, with the payout scheduled for October 1st.

HighTower Advisors LLC lessened its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,054 shares of the insurance provider's stock after selling 2,017 shares during the period. HighTower Advisors LLC owned 0.06% of Allstate worth $31,279,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ALL. Hughes Financial Services LLC bought a new position in Allstate in the first quarter valued at about $28,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Allstate during the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. raised its stake in shares of Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after buying an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Allstate during the first quarter worth approximately $43,000. Finally, Mattson Financial Services LLC acquired a new position in Allstate in the fourth quarter valued at approximately $44,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALL has been the subject of several recent research reports. William Blair started coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating for the company. Evercore ISI lifted their price objective on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods increased their target price on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. 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, BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Allstate presently has an average rating of "Moderate Buy" and a consensus price target of $229.33.

Allstate Stock Up 0.9%

Shares of NYSE:ALL traded up $1.8090 during mid-day trading on Tuesday, reaching $208.8990. 227,995 shares of the stock were exchanged, compared to its average volume of 1,727,622. The Allstate Corporation has a one year low of $176.00 and a one year high of $213.18. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock's 50 day simple moving average is $198.28 and its 200-day simple moving average is $198.62. The company has a market cap of $55.05 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.84 and a beta of 0.35.

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

Allstate Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate's payout ratio is 18.81%.

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.