1,450 Shares in The Allstate Corporation $ALL Acquired by IMS Capital Management

IMS Capital Management acquired a new position in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,450 shares of the insurance provider’s stock, valued at approximately $292,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its position in Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock valued at $2,352,000 after purchasing an additional 2,643 shares during the period. Atlas Capital Advisors Inc. raised its position in Allstate by 197.3% in the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock valued at $1,390,000 after purchasing an additional 4,454 shares during the period. Richard Bernstein Advisors LLC purchased a new stake in Allstate in the first quarter valued at $3,341,000. Dock Street Asset Management Inc. purchased a new stake in Allstate in the first quarter valued at $207,000. Finally, First Citizens Bank & Trust Co. raised its position in Allstate by 5.5% in the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider’s stock valued at $11,906,000 after purchasing an additional 2,981 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 0.5%

NYSE:ALL opened at $207.56 on Wednesday. The stock has a 50-day simple moving average of $202.14 and a 200-day simple moving average of $200.61. The stock has a market cap of $54.69 billion, a P/E ratio of 9.76, a P/E/G ratio of 0.81 and a beta of 0.37. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 EPS. As a group, analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate’s payout ratio is presently 18.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wolfe Research raised Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. Jefferies Financial Group lifted their price objective on Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price objective (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the company an “equal weight” rating in a research note on Tuesday, August 5th. Finally, BMO Capital Markets boosted their target price on Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $231.47.

Allstate Company 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.