1,017 Shares in The Allstate Co. (NYSE:ALL) Bought by Wealth Management Partners LLC

Wealth Management Partners LLC bought a new position in shares of The Allstate Co. (NYSE:ALL) in the 1st quarter, Holdings Channel.com reports. The fund bought 1,017 shares of the insurance provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock worth $1,270,705,000 after acquiring an additional 4,035,629 shares in the last quarter. Norges Bank acquired a new position in shares of Allstate during the 4th quarter worth about $344,354,000. GQG Partners LLC boosted its position in shares of Allstate by 64.1% during the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock worth $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider’s stock worth $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its position in shares of Allstate by 15,062.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock worth $215,757,000 after acquiring an additional 1,111,748 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALL. Wells Fargo & Company lowered their price objective on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Barclays reduced their target price on Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a report on Friday, April 11th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Allstate in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $225.20.

Allstate Stock Performance

Shares of ALL stock opened at $206.96 on Thursday. The company has a market cap of $54.81 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The stock has a 50 day simple moving average of $199.59 and a 200-day simple moving average of $197.04. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $213.18. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share 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 analyst estimates of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business’s 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. On average, equities analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, June 9th. Allstate’s dividend payout ratio is currently 27.32%.

Allstate announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.