Guggenheim Capital LLC Boosts Holdings in The Allstate Corporation $ALL

Guggenheim Capital LLC grew its position in The Allstate Corporation (NYSE:ALL) by 11.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 46,196 shares of the insurance provider’s stock after purchasing an additional 4,584 shares during the period. Guggenheim Capital LLC’s holdings in Allstate were worth $9,566,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Allstate in the 4th quarter valued at approximately $231,000. Voleon Capital Management LP acquired a new stake in Allstate in the 4th quarter valued at approximately $3,009,000. Kapitalo Investimentos Ltda acquired a new stake in Allstate in the 4th quarter valued at approximately $29,000. Finally, Comerica Bank increased its holdings in Allstate by 1.9% in the 4th quarter. Comerica Bank now owns 79,400 shares of the insurance provider’s stock valued at $15,308,000 after purchasing an additional 1,463 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ALL. Morgan Stanley lifted their target price on shares of Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. BMO Capital Markets raised their price target on shares of Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Cantor Fitzgerald raised shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 price target (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.73.

Allstate Price Performance

Allstate stock opened at $203.96 on Friday. The stock has a market cap of $53.74 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 0.83 and a beta of 0.35. The company has a fifty day simple moving average of $199.64 and a 200-day simple moving average of $199.36. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

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

Allstate Announces Dividend

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

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.