Y Intercept Hong Kong Ltd Makes New Investment in The Allstate Corporation (NYSE:ALL)

Y Intercept Hong Kong Ltd acquired a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,059 shares of the insurance provider's stock, valued at approximately $2,083,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hughes Financial Services LLC bought a new position in Allstate in the first quarter worth about $28,000. Kapitalo Investimentos Ltda bought a new position in Allstate in the fourth quarter worth about $29,000. Aster Capital Management DIFC Ltd bought a new position in Allstate in the fourth quarter worth about $40,000. Mattson Financial Services LLC bought a new position in Allstate in the fourth quarter worth about $44,000. Finally, Wayfinding Financial LLC bought a new position in Allstate in the first quarter worth about $54,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

NYSE ALL traded up $1.91 during trading hours on Friday, reaching $195.85. The stock had a trading volume of 1,370,899 shares, compared to its average volume of 1,562,177. The stock has a fifty day moving average of $199.34 and a 200 day moving average of $196.91. The stock has a market cap of $51.86 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. The Allstate Corporation has a 52-week low of $166.46 and a 52-week high of $213.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. Allstate's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.13 EPS. Sell-side analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 2.04%. Allstate's dividend payout ratio is presently 27.32%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays boosted their target price on shares of Allstate from $172.00 to $188.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Morgan Stanley boosted their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $227.07.

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.