Pacific Sage Partners LLC Purchases Shares of 1,014 The Allstate Corporation (NYSE:ALL)

Pacific Sage Partners LLC purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,014 shares of the insurance provider’s stock, valued at approximately $210,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Allstate by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock valued at $6,291,783,000 after acquiring an additional 389,426 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Allstate by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider’s stock valued at $1,799,681,000 after acquiring an additional 218,771 shares during the period. Bank of America Corp DE boosted its holdings in Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares during the period. Geode Capital Management LLC boosted its holdings in Allstate by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock valued at $1,236,060,000 after acquiring an additional 191,147 shares during the period. Finally, GQG Partners LLC boosted its holdings in Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after acquiring an additional 1,685,694 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

Shares of Allstate stock opened at $198.15 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $52.47 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.02 and a beta of 0.35. The Allstate Corporation has a 1-year low of $157.48 and a 1-year high of $213.18. The firm’s 50-day moving average price is $200.87 and its two-hundred day moving average price is $196.54.

Allstate (NYSE:ALL) last released its quarterly 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). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same period last year, the company earned $5.13 earnings per share. Allstate’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its board has approved a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 2.02%. Allstate’s dividend payout ratio (DPR) is currently 27.32%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALL shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $250.00 price objective (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Evercore ISI upped their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Finally, William Blair started coverage on shares of Allstate in a research report on Friday, June 6th. They set a “sector outperform” rating for the company. One research 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. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average target price 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.