Wealth Enhancement Advisory Services LLC Has $22.81 Million Stake in The Allstate Co. (NYSE:ALL)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,319 shares of the insurance provider's stock after purchasing an additional 21,149 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Allstate were worth $22,811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ALL. Los Angeles Capital Management LLC grew its holdings in Allstate by 10.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock worth $98,065,000 after acquiring an additional 48,382 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Allstate by 56.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider's stock worth $36,012,000 after acquiring an additional 67,032 shares during the period. CIBC Asset Management Inc grew its holdings in Allstate by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 40,579 shares of the insurance provider's stock worth $7,823,000 after acquiring an additional 1,828 shares during the period. Keybank National Association OH grew its holdings in Allstate by 1.7% during the fourth quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider's stock worth $66,489,000 after acquiring an additional 5,786 shares during the period. Finally, GDS Wealth Management grew its holdings in Allstate by 3.8% during the fourth quarter. GDS Wealth Management now owns 89,233 shares of the insurance provider's stock worth $17,203,000 after acquiring an additional 3,271 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Down 0.6%

NYSE:ALL traded down $1.23 on Tuesday, hitting $211.41. 1,263,468 shares of the company's stock traded hands, compared to its average volume of 1,608,649. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $213.18. The firm has a 50-day moving average price of $199.58 and a 200-day moving average price of $196.97. The company has a market cap of $55.98 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. During the same period last year, the firm earned $5.13 EPS. The company's revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

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

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 annualized dividend and a yield of 1.89%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALL. Evercore ISI lifted their target price on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company lowered their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Morgan Stanley lifted their target price on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Barclays dropped their price target on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently 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.