Sagespring Wealth Partners LLC Has $1.59 Million Holdings in The Allstate Co. (NYSE:ALL)

Sagespring Wealth Partners LLC lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 9.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 7,662 shares of the insurance provider’s stock after purchasing an additional 648 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Allstate were worth $1,586,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Intrust Bank NA increased its holdings in shares of Allstate by 0.5% during the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock worth $2,340,000 after buying an additional 61 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Allstate by 4.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock worth $290,000 after buying an additional 63 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Allstate by 1.7% during the first quarter. Miracle Mile Advisors LLC now owns 3,777 shares of the insurance provider’s stock worth $782,000 after buying an additional 63 shares in the last quarter. Empower Advisory Group LLC increased its holdings in shares of Allstate by 5.3% during the fourth quarter. Empower Advisory Group LLC now owns 1,286 shares of the insurance provider’s stock worth $248,000 after buying an additional 65 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in Allstate by 28.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 302 shares of the insurance provider’s stock valued at $58,000 after purchasing an additional 66 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of ALL opened at $199.41 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The stock has a 50-day moving average of $200.53 and a 200-day moving average of $196.80. The company has a market cap of $52.81 billion, a PE ratio of 11.74, a P/E/G ratio of 1.01 and a beta of 0.35. The Allstate Co. has a one year low of $156.66 and a one year high of $213.18.

Allstate (NYSE:ALL) last issued its 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 during the quarter, compared to analyst estimates 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 earned $5.13 earnings per share. On average, equities research analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 2.01%. Allstate’s dividend payout ratio is presently 27.32%.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Barclays decreased their price objective on Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a report on Friday, April 11th. Raymond James restated a “strong-buy” rating and issued a $250.00 price objective (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Finally, Morgan Stanley increased their price objective on Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.20.

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.