Thoroughbred Financial Services LLC Buys New Shares in The Allstate Corporation (NYSE:ALL)

Key Points

• Thoroughbred Financial Services LLC acquired 2,215 shares of The Allstate Corporation valued at approximately $458,000, indicating growing institutional investment in the company.
• Allstate recently announced a quarterly dividend of $1.00 per share, reflecting a 2.0% dividend yield and a payout ratio of 18.81%.
• Despite beating earnings expectations with $5.94 EPS for the last quarter, Allstate's revenue fell short of consensus estimates, contributing to a mixed outlook from analysts with target prices ranging from $202.00 to $260.00.

Thoroughbred Financial Services LLC bought a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 2,215 shares of the insurance provider's stock, valued at approximately $458,000.

A number of other institutional investors also recently modified their holdings of ALL. Bank of America Corp DE lifted its position in shares of Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares during the period. GAMMA Investing LLC lifted its position in shares of Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares during the period. Castle Hook Partners LP lifted its position in shares of Allstate by 1,303.3% during the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after acquiring an additional 766,058 shares during the period. Menora Mivtachim Holdings LTD. acquired a new position in shares of Allstate during the 4th quarter valued at $143,165,000. Finally, Mackenzie Financial Corp lifted its position in shares of Allstate by 261.6% during the 4th quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock valued at $160,575,000 after acquiring an additional 602,533 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL stock opened at $204.86 on Friday. The Allstate Corporation has a 12 month low of $169.20 and a 12 month high of $213.18. The stock has a market cap of $53.98 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The company's fifty day moving average price is $198.37 and its 200-day moving average price is $197.65.

Allstate (NYSE:ALL - Get Free Report) last posted 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. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%. Allstate's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. On average, equities analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a $1.00 dividend. 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 payout ratio is currently 18.81%.

Wall Street Analyst Weigh In

ALL has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price objective (up previously from $250.00) on shares of Allstate in a report on Monday. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the company an "equal weight" rating in a report on Tuesday. Finally, UBS Group increased their target price on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $230.00.

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.

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