Rafferty Asset Management LLC Boosts Stock Position in The Allstate Co. (NYSE:ALL)

Rafferty Asset Management LLC raised its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 93,422 shares of the insurance provider's stock after purchasing an additional 3,900 shares during the quarter. Rafferty Asset Management LLC's holdings in Allstate were worth $18,011,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. VSM Wealth Advisory LLC purchased a new stake in Allstate in the 4th quarter worth approximately $25,000. Twin Tree Management LP purchased a new stake in Allstate in the 4th quarter worth approximately $27,000. Vision Financial Markets LLC purchased a new stake in Allstate in the 4th quarter worth approximately $29,000. Hopwood Financial Services Inc. purchased a new stake in Allstate in the 4th quarter worth approximately $29,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Allstate in the 4th quarter worth approximately $29,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Trading Up 0.4%

Shares of NYSE ALL traded up $0.84 during mid-day trading on Monday, reaching $209.90. The company had a trading volume of 1,029,866 shares, compared to its average volume of 1,615,153. The business's 50-day moving average is $199.48 and its 200-day moving average is $195.75. 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 52 week low of $156.66 and a 52 week high of $212.91. The stock has a market cap of $55.59 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32.

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

Allstate declared that its board has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.91%. This is a positive change from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio (DPR) is currently 27.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALL shares. Raymond James reaffirmed a "strong-buy" rating and set a $250.00 price objective (up from $240.00) on shares of Allstate in a report on Monday, May 5th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a report on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company cut their price objective 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, Morgan Stanley increased their price objective on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Allstate has a consensus rating of "Moderate Buy" and a consensus price target 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.