Quadcap Wealth Management LLC Invests $440,000 in The Allstate Co. (NYSE:ALL)

Quadcap Wealth Management LLC purchased a new stake in shares of The Allstate Co. (NYSE:ALL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,282 shares of the insurance provider's stock, valued at approximately $440,000.

Several other hedge funds also recently made changes to their positions in the company. Quantinno Capital Management LP raised its stake in shares of Allstate by 24.8% in the fourth quarter. Quantinno Capital Management LP now owns 76,759 shares of the insurance provider's stock worth $14,798,000 after purchasing an additional 15,229 shares during the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Allstate in the fourth quarter worth $754,000. NorthRock Partners LLC raised its stake in shares of Allstate by 193.4% in the fourth quarter. NorthRock Partners LLC now owns 6,690 shares of the insurance provider's stock worth $1,290,000 after purchasing an additional 4,410 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Allstate by 15.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,924,415 shares of the insurance provider's stock worth $371,008,000 after purchasing an additional 254,487 shares during the last quarter. Finally, Occudo Quantitative Strategies LP raised its stake in shares of Allstate by 276.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 16,556 shares of the insurance provider's stock worth $3,192,000 after purchasing an additional 12,154 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Down 0.9%

Shares of ALL traded down $1.86 during mid-day trading on Tuesday, reaching $208.09. The company's stock had a trading volume of 1,058,543 shares, compared to its average volume of 1,616,070. The company's 50 day moving average is $199.70 and its 200 day moving average is $195.93. The stock has a market cap of $55.11 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced 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). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same period in the previous year, the firm earned $5.13 earnings per share. The business'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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 1.92%. Allstate's dividend payout ratio (DPR) is 27.32%.

Allstate announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALL shares. Wells Fargo & Company decreased their price target on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Raymond James reiterated a "strong-buy" rating and set a $250.00 price objective (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Evercore ISI upped their price objective on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, StockNews.com upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $225.20.

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.