Tidal Investments LLC Purchases 70,073 Shares of The Allstate Co. (NYSE:ALL)

Tidal Investments LLC increased its position in The Allstate Co. (NYSE:ALL) by 171.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 110,832 shares of the insurance provider’s stock after buying an additional 70,073 shares during the quarter. Tidal Investments LLC’s holdings in Allstate were worth $21,367,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALL. Park Avenue Securities LLC grew its holdings in shares of Allstate by 40.8% during the 4th quarter. Park Avenue Securities LLC now owns 10,184 shares of the insurance provider’s stock valued at $1,963,000 after purchasing an additional 2,951 shares during the last quarter. Carnegie Investment Counsel grew its stake in shares of Allstate by 116.9% during the fourth quarter. Carnegie Investment Counsel now owns 2,562 shares of the insurance provider’s stock valued at $494,000 after buying an additional 1,381 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Allstate by 30.5% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,456 shares of the insurance provider’s stock worth $281,000 after buying an additional 340 shares during the period. Merit Financial Group LLC lifted its stake in shares of Allstate by 78.9% in the 4th quarter. Merit Financial Group LLC now owns 3,909 shares of the insurance provider’s stock valued at $754,000 after acquiring an additional 1,724 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its stake in shares of Allstate by 4.7% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,480 shares of the insurance provider’s stock valued at $478,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of several recent research reports. Morgan Stanley raised their price target on Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Evercore ISI lifted their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Barclays cut their price target on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Finally, Raymond James reissued a “strong-buy” rating and issued a $250.00 price target (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $225.20.

Allstate Stock Performance

Shares of ALL stock opened at $209.13 on Monday. The stock has a fifty day moving average of $199.48 and a 200 day moving average of $195.75. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The firm has a market capitalization of $55.38 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.01 and a beta of 0.32. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last announced 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). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. During the same period in the previous year, the business earned $5.13 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts expect that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a $1.00 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date was Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a yield of 1.91%. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

Allstate announced that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.