Vestcor Inc Buys 49,176 Shares of The Allstate Corporation (NYSE:ALL)

Vestcor Inc boosted its holdings in The Allstate Corporation (NYSE:ALL) by 142.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,676 shares of the insurance provider’s stock after acquiring an additional 49,176 shares during the quarter. Vestcor Inc’s holdings in Allstate were worth $17,327,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new stake in Allstate in the first quarter valued at about $28,000. Kapitalo Investimentos Ltda bought a new stake in shares of Allstate during the fourth quarter valued at approximately $29,000. Meeder Asset Management Inc. grew its stake in shares of Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 99 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Allstate during the fourth quarter valued at approximately $40,000. Finally, Mattson Financial Services LLC bought a new position in Allstate in the fourth quarter valued at approximately $44,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Barclays raised their price objective on shares of Allstate from $172.00 to $188.00 and gave the stock an “underweight” rating in a report on Monday, July 7th. UBS Group raised their target price on shares of Allstate from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Finally, Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $227.07.

Allstate Price Performance

Shares of NYSE:ALL opened at $193.83 on Wednesday. The firm has a 50 day moving average of $198.69 and a 200-day moving average of $197.01. The stock has a market capitalization of $51.33 billion, a PE ratio of 13.24, a PEG ratio of 1.00 and a beta of 0.33. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The Allstate Corporation has a 12 month low of $168.36 and a 12 month high of $213.18.

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

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, August 29th. Allstate’s dividend payout ratio is 27.32%.

Allstate Company 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.