Clark Capital Management Group Inc. Purchases New Position in The Allstate Corporation $ALL

Clark Capital Management Group Inc. acquired a new position in shares of The Allstate Corporation (NYSE:ALL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,279 shares of the insurance provider’s stock, valued at approximately $265,000.

Several other large investors have also modified their holdings of the stock. AQR Capital Management LLC raised its stake in Allstate by 20.3% during the 1st quarter. AQR Capital Management LLC now owns 2,018,403 shares of the insurance provider’s stock worth $417,244,000 after acquiring an additional 340,150 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Allstate by 178.6% during the first quarter. Advisors Asset Management Inc. now owns 7,921 shares of the insurance provider’s stock worth $1,640,000 after purchasing an additional 5,078 shares during the last quarter. Atalanta Sosnoff Capital LLC increased its position in shares of Allstate by 5.8% during the first quarter. Atalanta Sosnoff Capital LLC now owns 500,425 shares of the insurance provider’s stock worth $103,623,000 after purchasing an additional 27,266 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of Allstate by 0.7% in the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock valued at $1,740,000 after purchasing an additional 55 shares during the last quarter. Finally, Aprio Wealth Management LLC boosted its position in shares of Allstate by 26.0% in the 1st quarter. Aprio Wealth Management LLC now owns 2,166 shares of the insurance provider’s stock valued at $449,000 after purchasing an additional 447 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of several research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price target (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. BMO Capital Markets raised their target price on shares of Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Tuesday, August 5th. Jefferies Financial Group increased their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average target price of $231.21.

Allstate Price Performance

Shares of NYSE ALL opened at $201.39 on Friday. The stock has a fifty day moving average price of $200.72 and a 200 day moving average price of $200.03. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $214.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $53.07 billion, a PE ratio of 9.47, a P/E/G ratio of 0.81 and a beta of 0.37.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 EPS. Sell-side analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate’s payout ratio is currently 18.81%.

Allstate 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.