Clg LLC Invests $207,000 in The Allstate Corporation (NYSE:ALL)

Clg LLC bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 998 shares of the insurance provider’s stock, valued at approximately $207,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Allstate in the fourth quarter valued at about $231,000. Stenger Family Office LLC acquired a new stake in Allstate in the fourth quarter valued at about $439,000. Principal Securities Inc. boosted its stake in Allstate by 12.5% in the fourth quarter. Principal Securities Inc. now owns 1,696 shares of the insurance provider’s stock valued at $327,000 after buying an additional 188 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its stake in Allstate by 16.3% in the fourth quarter. Valmark Advisers Inc. now owns 1,495 shares of the insurance provider’s stock valued at $288,000 after buying an additional 210 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of ALL opened at $195.68 on Thursday. The Allstate Corporation has a 52-week low of $157.48 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. The business’s 50 day moving average price is $200.67 and its two-hundred day moving average price is $196.80. The firm has a market cap of $51.82 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.03 and a beta of 0.35.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same period last year, the firm posted $5.13 earnings per share. Allstate’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

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

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, June 9th. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALL. Keefe, Bruyette & Woods lifted their price target on Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. William Blair began coverage on Allstate in a research note on Friday, June 6th. They set a “sector outperform” rating on the stock. JPMorgan Chase & Co. lifted their price target on Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Morgan Stanley lifted their price target on Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Finally, BMO Capital Markets reissued 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, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.