Mckinley Capital Management LLC Delaware increased its holdings in Allstate Corp (NYSE:ALL) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 166,634 shares of the insurance provider’s stock after buying an additional 1,099 shares during the period. Mckinley Capital Management LLC Delaware owned about 0.05% of Allstate worth $16,945,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Wealth Partners Ltd. raised its position in shares of Allstate by 201.1% during the 2nd quarter. Strategic Wealth Partners Ltd. now owns 554 shares of the insurance provider’s stock worth $56,000 after buying an additional 370 shares in the last quarter. Stone Ridge Asset Management LLC raised its stake in Allstate by 22.1% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 22,117 shares of the insurance provider’s stock valued at $2,249,000 after purchasing an additional 4,000 shares during the last quarter. Cynosure Management LLC acquired a new position in Allstate during the 2nd quarter valued at $445,000. Associated Banc Corp raised its stake in Allstate by 3.9% during the 2nd quarter. Associated Banc Corp now owns 115,431 shares of the insurance provider’s stock valued at $11,739,000 after purchasing an additional 4,313 shares during the last quarter. Finally, Savant Capital LLC raised its stake in Allstate by 2.1% during the 2nd quarter. Savant Capital LLC now owns 9,043 shares of the insurance provider’s stock valued at $920,000 after purchasing an additional 187 shares during the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. Raymond James upped their target price on shares of Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group boosted their price target on shares of Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Goldman Sachs Group raised shares of Allstate from a “neutral” rating to a “buy” rating and boosted their price target for the company from $106.00 to $110.00 in a report on Wednesday, May 29th. Credit Suisse Group lowered shares of Allstate from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $100.00 to $94.00 in a report on Thursday, July 11th. Finally, Barclays set a $125.00 price target on shares of Allstate and gave the company a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Allstate has a consensus rating of “Hold” and a consensus price target of $108.25.
Shares of ALL traded down $2.52 during mid-day trading on Friday, hitting $101.98. 1,101,035 shares of the company’s stock were exchanged, compared to its average volume of 1,616,616. The company has a market cap of $34.20 billion, a PE ratio of 12.64, a P/E/G ratio of 1.32 and a beta of 0.82. Allstate Corp has a 52 week low of $77.00 and a 52 week high of $109.13. The company has a 50-day simple moving average of $103.42 and a 200 day simple moving average of $98.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.28 and a quick ratio of 0.28.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.70. The company had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Allstate had a net margin of 6.52% and a return on equity of 12.66%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business earned $2.00 EPS. On average, analysts anticipate that Allstate Corp will post 9.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.96%. Allstate’s dividend payout ratio is currently 24.78%.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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