Los Angeles Capital Management LLC raised its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 122.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,640 shares of the insurance provider's stock after acquiring an additional 23,990 shares during the quarter. Los Angeles Capital Management LLC's holdings in Allstate were worth $7,550,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in ALL. Private Wealth Management Group LLC purchased a new stake in Allstate during the 4th quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Allstate during the 4th quarter worth approximately $36,000. Venturi Wealth Management LLC raised its stake in shares of Allstate by 152.7% during the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider's stock worth $39,000 after buying an additional 168 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Allstate during the 4th quarter worth approximately $43,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Allstate during the 4th quarter worth approximately $44,000. 76.47% of the stock is owned by institutional investors and hedge funds.
Allstate Trading Up 1.6 %
Shares of ALL stock traded up $2.53 during mid-day trading on Thursday, hitting $162.59. 1,909,646 shares of the company's stock were exchanged, compared to its average volume of 1,604,481. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The stock has a 50-day simple moving average of $166.66 and a two-hundred day simple moving average of $159.09. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a market cap of $42.91 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 1.51 and a beta of 0.50.
Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business had revenue of $15.26 billion for the quarter, compared to analysts' expectations of $12.76 billion. During the same quarter last year, the firm earned ($1.30) earnings per share. The business's revenue was up 10.7% on a year-over-year basis. Equities analysts expect that The Allstate Co. will post 15.13 EPS for the current fiscal year.
Allstate Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, May 31st. Allstate's dividend payout ratio (DPR) is currently 81.24%.
Insider Activity at Allstate
In other news, insider John E. Dugenske sold 31,000 shares of the firm's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on ALL shares. Roth Mkm increased their target price on Allstate from $175.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. Evercore ISI increased their target price on Allstate from $166.00 to $173.00 and gave the stock an "in-line" rating in a research note on Thursday, April 11th. HSBC raised Allstate from a "hold" rating to a "buy" rating and raised their price objective for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. Wells Fargo & Company raised their price objective on Allstate from $146.00 to $153.00 and gave the company an "underweight" rating in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. raised their price objective on Allstate from $185.00 to $193.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $174.59.
View Our Latest Stock Analysis on ALL
Allstate Profile
(Free Report)
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.
See Also
- Five stocks we like better than Allstate
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- Darden Stock Up After Q4 Earnings Beat, Cautious FY25 Outlook
- 3 Best Fintech Stocks for a Portfolio Boost
- Celsius Stock: Why Piper Sandler Forecasts a 50% Surge
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Accenture’s Stock Earnings Reveal an AI-Powered Growth Strategy
→ Silver Expected for Extreme Price Action (From Colonial Metals) (Ad)
Should you invest $1,000 in Allstate right now?
Before you consider Allstate, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Allstate wasn't on the list.
While Allstate currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
These 7 Stocks Will Be Magnificent in 2024
With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.
Get This Free Report
