Tidal Investments LLC Increases Position in The Allstate Co. (NYSE:ALL)

Tidal Investments LLC raised its stake in The Allstate Co. (NYSE:ALL - Free Report) by 171.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,832 shares of the insurance provider's stock after buying an additional 70,073 shares during the period. Tidal Investments LLC's holdings in Allstate were worth $21,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. VSM Wealth Advisory LLC purchased a new position in Allstate during the fourth quarter valued at approximately $25,000. Twin Tree Management LP bought a new stake in Allstate during the fourth quarter valued at about $27,000. Vision Financial Markets LLC purchased a new position in Allstate in the fourth quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new position in Allstate in the fourth quarter worth about $29,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Allstate during the fourth quarter valued at about $29,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALL. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company reduced their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a report on Friday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Finally, Morgan Stanley lifted their price objective on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $225.20.

Allstate Stock Performance

ALL traded down $2.87 during trading on Thursday, hitting $202.44. 1,179,990 shares of the stock were exchanged, compared to its average volume of 1,612,798. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $53.61 billion, a P/E ratio of 11.92, a PEG ratio of 1.01 and a beta of 0.32. The stock has a fifty day moving average price of $199.78 and a two-hundred day moving average price of $196.08. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same period in the previous year, the firm posted $5.13 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a $1.00 dividend. This is a boost from Allstate's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.98%. Allstate's dividend payout ratio (DPR) is 27.32%.

Allstate announced that its board has approved a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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.