The Allstate Corporation $ALL Shares Purchased by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in The Allstate Corporation by 23.2%, owning 146,525 shares valued at $29.01 million.
• Allstate reported an EPS of $5.94, exceeding analyst expectations by $2.74, while revenue was $15.05 billion, below the consensus estimate.
• The company recently announced a quarterly dividend of $1.00 per share, representing an annualized dividend yield of 1.9%.

Wealth Enhancement Advisory Services LLC grew its position in The Allstate Corporation (NYSE:ALL - Free Report) by 23.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 146,525 shares of the insurance provider's stock after acquiring an additional 27,575 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.06% of Allstate worth $29,012,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ALL. Sequoia Financial Advisors LLC grew its holdings in Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock valued at $2,352,000 after purchasing an additional 2,643 shares during the period. Atlas Capital Advisors Inc. increased its holdings in Allstate by 197.3% in the 1st quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock worth $1,390,000 after acquiring an additional 4,454 shares in the last quarter. Richard Bernstein Advisors LLC purchased a new position in Allstate during the first quarter valued at $3,341,000. Dock Street Asset Management Inc. acquired a new position in shares of Allstate during the 1st quarter worth about $207,000. Finally, First Citizens Bank & Trust Co. lifted its stake in Allstate by 5.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock valued at $11,906,000 after buying an additional 2,981 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Up 0.2%

NYSE:ALL traded up $0.51 during midday trading on Monday, reaching $206.55. The company had a trading volume of 806,294 shares, compared to its average volume of 1,694,573. The stock's fifty day simple moving average is $201.63 and its 200-day simple moving average is $200.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76. The firm has a market capitalization of $54.43 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.82 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter last year, the business posted $1.61 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's payout ratio is 18.81%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALL. UBS Group increased their target price on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Barclays reiterated an "underweight" rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Wells Fargo & Company set a $202.00 price target on shares of Allstate and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group upped their price objective on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $231.47.

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.