N.E.W. Advisory Services LLC Grows Stake in The Allstate Corporation (NYSE:ALL)

N.E.W. Advisory Services LLC grew its stake in The Allstate Corporation (NYSE:ALL) by 29.6% during the first quarter, HoldingsChannel reports. The fund owned 2,007 shares of the insurance provider’s stock after acquiring an additional 458 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in Allstate were worth $416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rehmann Capital Advisory Group increased its holdings in shares of Allstate by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after acquiring an additional 51 shares during the period. Vantage Point Financial LLC increased its holdings in shares of Allstate by 3.6% in the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock valued at $310,000 after acquiring an additional 52 shares during the period. Confluence Wealth Services Inc. increased its holdings in shares of Allstate by 0.7% in the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock valued at $1,558,000 after acquiring an additional 54 shares during the period. Achmea Investment Management B.V. increased its holdings in shares of Allstate by 0.3% in the 1st quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider’s stock valued at $4,262,000 after acquiring an additional 57 shares during the period. Finally, Avidian Wealth Enterprises LLC increased its holdings in shares of Allstate by 1.7% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 3,552 shares of the insurance provider’s stock valued at $735,000 after acquiring an additional 59 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALL. Keefe, Bruyette & Woods lifted their price target on Allstate from $235.00 to $237.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Wells Fargo & Company lowered their price objective on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Raymond James Financial reissued a “strong-buy” rating and issued a $250.00 price objective (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. William Blair assumed coverage on Allstate in a research report on Friday, June 6th. They issued a “sector outperform” rating for the company. Finally, Evercore ISI raised their price objective on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $227.07.

Allstate Stock Performance

Shares of ALL opened at $193.83 on Wednesday. The stock has a 50-day moving average of $198.69 and a two-hundred day moving average of $197.01. The Allstate Corporation has a one year low of $168.36 and a one year high of $213.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $51.33 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.00 and a beta of 0.33.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.13 EPS. As a group, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.06%. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

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.