Annex Advisory Services LLC Buys 2,983 Shares of The Allstate Co. (NYSE:ALL)

Annex Advisory Services LLC raised its holdings in shares of The Allstate Co. (NYSE:ALL) by 116.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,537 shares of the insurance provider’s stock after purchasing an additional 2,983 shares during the period. Annex Advisory Services LLC’s holdings in Allstate were worth $958,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Private Wealth Management Group LLC purchased a new position in shares of Allstate in the fourth quarter worth $25,000. Rise Advisors LLC purchased a new position in shares of Allstate in the first quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the first quarter worth $26,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Allstate in the fourth quarter worth $36,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALL shares. The Goldman Sachs Group boosted their price target on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Roth Mkm lifted their price objective on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. Morgan Stanley lifted their price objective on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.88.

Allstate Price Performance

Shares of Allstate stock opened at $161.42 on Wednesday. The stock’s 50-day simple moving average is $166.41 and its 200-day simple moving average is $159.86. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37. The company has a market capitalization of $42.60 billion, a price-to-earnings ratio of 35.63, a PEG 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 announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating 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 the consensus estimate of $12.76 billion. During the same period in the previous year, the business earned ($1.30) earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. As a group, analysts expect that The Allstate Co. will post 13.91 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a $0.92 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 2.28%. Allstate’s payout ratio is 81.24%.

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.