1,797 Shares in The Allstate Corporation $ALL Purchased by Means Investment CO. Inc.

Means Investment CO. Inc. purchased a new position in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,797 shares of the insurance provider’s stock, valued at approximately $362,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rehmann Capital Advisory Group grew its holdings in Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock worth $338,000 after purchasing an additional 51 shares during the period. Vantage Point Financial LLC grew its holdings in Allstate by 3.6% during the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 52 shares during the period. Confluence Wealth Services Inc. grew its holdings in Allstate by 0.7% during the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock worth $1,558,000 after purchasing an additional 54 shares during the period. Linscomb Wealth Inc. grew its holdings in Allstate by 1.3% during the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after purchasing an additional 54 shares during the period. Finally, Ancora Advisors LLC grew its holdings in Allstate by 0.7% during the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock worth $1,740,000 after purchasing an additional 55 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 1.6%

NYSE ALL opened at $205.59 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $215.70. The company has a 50 day moving average of $206.06 and a 200-day moving average of $201.07. The company has a market cap of $54.18 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.79 and a beta of 0.38.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the business earned $1.61 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, August 29th. Allstate’s payout ratio is presently 18.81%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALL shares. Wolfe Research upgraded Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. UBS Group raised their price objective on shares of Allstate from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James Financial restated a “strong-buy” rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $234.50.

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.