Trexquant Investment LP acquired a new stake in Allstate (NYSE:ALL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,884 shares of the insurance provider’s stock, valued at approximately $1,980,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in ALL. Rational Advisors LLC purchased a new position in Allstate in the fourth quarter valued at approximately $126,000. Taylor Hoffman Wealth Management acquired a new position in shares of Allstate during the 4th quarter worth $131,000. Resources Investment Advisors Inc. raised its stake in shares of Allstate by 71.1% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,340 shares of the insurance provider’s stock worth $140,000 after buying an additional 557 shares during the last quarter. Prentiss Smith & Co. Inc. acquired a new position in shares of Allstate during the 4th quarter worth $143,000. Finally, Truewealth LLC acquired a new position in shares of Allstate during the 4th quarter worth $159,000. 78.38% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on ALL shares. Zacks Investment Research downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Wells Fargo reiterated a “hold” rating and set a $100.00 price objective on shares of Allstate in a research report on Monday, April 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $105.00 price objective (down previously from $113.00) on shares of Allstate in a research report on Wednesday, February 21st. Citigroup dropped their price objective on Allstate from $112.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 10th. Finally, Argus reiterated a “buy” rating and set a $110.00 price objective on shares of Allstate in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $101.46.
Allstate (NYSE:ALL) last released its quarterly earnings data on Tuesday, May 1st. The insurance provider reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.35. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.04 billion. Allstate had a return on equity of 14.56% and a net margin of 8.93%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. equities research analysts anticipate that Allstate will post 8.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Thursday, May 31st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, May 30th. Allstate’s dividend payout ratio (DPR) is presently 27.42%.
Allstate Company Profile
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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