Global Assets Advisory LLC Buys Shares of 32,271 The Allstate Co. (NYSE:ALL)

Global Assets Advisory LLC purchased a new position in shares of The Allstate Co. (NYSE:ALL) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 32,271 shares of the insurance provider’s stock, valued at approximately $5,583,000.

Other hedge funds also recently made changes to their positions in the company. SageView Advisory Group LLC acquired a new position in shares of Allstate during the 4th quarter worth about $456,000. Rafferty Asset Management LLC raised its holdings in shares of Allstate by 5.7% in the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock valued at $12,984,000 after purchasing an additional 4,987 shares during the period. Ellsworth Advisors LLC bought a new position in Allstate during the fourth quarter worth about $4,312,000. SteelPeak Wealth LLC raised its stake in Allstate by 175.2% in the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after acquiring an additional 9,984 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new position in Allstate during the fourth quarter worth $5,927,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Up 1.2 %

Shares of NYSE:ALL opened at $162.41 on Tuesday. The business has a fifty day simple moving average of $166.46 and a 200 day simple moving average of $159.70. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37. The firm has a market cap of $42.86 billion, a P/E ratio of 35.85, a P/E/G ratio of 1.65 and a beta of 0.50. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.30) earnings per share. Analysts predict that The Allstate Co. will post 13.91 earnings per share for the current year.

Allstate Announces Dividend

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 issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 2.27%. Allstate’s payout ratio is 81.24%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALL. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $194.00 price target on shares of Allstate in a report on Friday. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. Morgan Stanley increased their price objective on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Roth Mkm boosted their target price on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.88.

About Allstate

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.