Verum Partners LLC Invests $280,000 in The Allstate Co. (NYSE:ALL)

Verum Partners LLC acquired a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,353 shares of the insurance provider's stock, valued at approximately $280,000.

Several other large investors also recently modified their holdings of ALL. Intrust Bank NA increased its position in Allstate by 0.5% during the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock valued at $2,340,000 after purchasing an additional 61 shares during the period. Angeles Wealth Management LLC increased its position in Allstate by 4.6% during the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock valued at $270,000 after purchasing an additional 62 shares during the period. EverSource Wealth Advisors LLC increased its position in Allstate by 4.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider's stock valued at $290,000 after purchasing an additional 63 shares during the period. Empower Advisory Group LLC increased its position in Allstate by 5.3% during the 4th quarter. Empower Advisory Group LLC now owns 1,286 shares of the insurance provider's stock valued at $248,000 after purchasing an additional 65 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in Allstate by 28.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 302 shares of the insurance provider's stock valued at $58,000 after purchasing an additional 66 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of NYSE ALL opened at $208.10 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The company has a market cap of $55.11 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.01 and a beta of 0.35. The firm's fifty day moving average is $199.59 and its two-hundred day moving average is $197.17. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly 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 the consensus estimate of $16.41 billion. During the same quarter in the prior year, the firm posted $5.13 earnings per share. The business's revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate declared that its board has approved a share repurchase program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be issued a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.92%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Analysts Set New Price Targets

ALL has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Barclays reduced their target price on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Raymond James reaffirmed a "strong-buy" rating and issued a $250.00 target price (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. Finally, Wells Fargo & Company dropped their price target on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock 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, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Allstate presently has an average 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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