USA Financial Formulas Makes New $247,000 Investment in The Allstate Corporation $ALL

Key Points

• USA Financial Formulas has made a new investment in The Allstate Corporation, acquiring 1,227 shares valued at approximately $247,000 during the second quarter.
• The company recently reported a quarterly earnings of $5.94 EPS, significantly beating analysts' expectations of $3.20, although its revenue was lower than anticipated at $15.05 billion.
• Allstate declared a quarterly dividend of $1.00 per share, representing an annualized amount of $4.00 and a yield of 1.9%, with a payout ratio of 18.81%.

USA Financial Formulas acquired a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 1,227 shares of the insurance provider's stock, valued at approximately $247,000.

A number of other large investors have also recently made changes to their positions in the business. Trust Co. of Vermont grew its position in shares of Allstate by 0.6% in the 2nd quarter. Trust Co. of Vermont now owns 24,961 shares of the insurance provider's stock worth $5,025,000 after buying an additional 159 shares during the last quarter. Cooper Financial Group grew its position in shares of Allstate by 5.5% in the 2nd quarter. Cooper Financial Group now owns 1,057 shares of the insurance provider's stock worth $213,000 after buying an additional 55 shares during the last quarter. Capital Investment Advisors LLC grew its position in shares of Allstate by 23.4% in the 2nd quarter. Capital Investment Advisors LLC now owns 4,654 shares of the insurance provider's stock worth $937,000 after buying an additional 882 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Allstate by 6.5% in the 2nd quarter. HB Wealth Management LLC now owns 10,366 shares of the insurance provider's stock worth $2,087,000 after buying an additional 636 shares during the last quarter. Finally, Janney Capital Management LLC grew its position in shares of Allstate by 1.6% in the 2nd quarter. Janney Capital Management LLC now owns 19,279 shares of the insurance provider's stock worth $3,881,000 after buying an additional 296 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALL. Barclays reiterated an "underweight" rating and issued a $198.00 price objective (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Roth Capital set a $230.00 price target on Allstate and gave the company a "buy" rating in a research report on Friday, September 26th. Morgan Stanley lifted their price target on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods lifted their price target on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $231.56.

Allstate Stock Down 0.3%

Allstate stock opened at $210.00 on Friday. The stock has a market cap of $55.34 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.83 and a beta of 0.38. 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 Allstate Corporation has a one year low of $176.00 and a one year high of $215.70. The stock has a fifty day moving average of $204.42 and a 200 day moving average of $201.01.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating 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 company had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. Allstate's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 29th. Allstate's payout ratio is currently 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.

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