True Link Financial Advisors LLC Makes New Investment in The Allstate Corporation (NYSE:ALL)

True Link Financial Advisors LLC purchased 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 13F filing with the SEC. The institutional investor purchased 2,113 shares of the insurance provider's stock, valued at approximately $438,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALL. Blue Trust Inc. raised its stake in shares of Allstate by 46.4% in the first quarter. Blue Trust Inc. now owns 2,563 shares of the insurance provider's stock worth $531,000 after purchasing an additional 812 shares during the last quarter. CLG LLC acquired a new position in Allstate in the 1st quarter worth approximately $207,000. ORG Wealth Partners LLC raised its position in Allstate by 123.2% during the 1st quarter. ORG Wealth Partners LLC now owns 904 shares of the insurance provider's stock worth $188,000 after buying an additional 499 shares during the last quarter. State of Alaska Department of Revenue raised its position in Allstate by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 31,046 shares of the insurance provider's stock worth $6,428,000 after buying an additional 855 shares during the last quarter. Finally, Wolf Group Capital Advisors acquired a new stake in Allstate during the 1st quarter valued at approximately $393,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Trading Down 1.3%

Shares of ALL stock opened at $195.68 on Friday. The Allstate Corporation has a 1-year low of $157.48 and a 1-year high of $213.18. The company has a market cap of $51.82 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.02 and a beta of 0.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50 day simple moving average of $200.76 and a 200-day simple moving average of $196.74.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. Allstate's revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.13 EPS. On average, equities research 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 Tuesday, July 1st. Investors of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Allstate declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Wells Fargo & Company cut their price target 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. Keefe, Bruyette & Woods lifted their price objective on Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Evercore ISI upped their target price on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, William Blair initiated coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

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.

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