BCS Wealth Management Buys Shares of 2,508 The Allstate Corporation $ALL

BCS Wealth Management bought a new stake in The Allstate Corporation (NYSE:ALL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,508 shares of the insurance provider’s stock, valued at approximately $522,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its holdings in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC boosted its holdings in Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 73 shares during the period. Dorato Capital Management purchased a new position in Allstate during the 4th quarter valued at about $27,000. Palisade Asset Management LLC purchased a new position in Allstate during the 3rd quarter valued at about $31,000. Finally, Princeton Global Asset Management LLC boosted its holdings in Allstate by 101.3% during the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 76 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of ALL opened at $218.14 on Thursday. The Allstate Corporation has a twelve month low of $184.62 and a twelve month high of $219.48. The firm’s fifty day simple moving average is $208.51 and its 200-day simple moving average is $205.49. The firm has a market capitalization of $56.33 billion, a price-to-earnings ratio of 5.71, a PEG ratio of 0.43 and a beta of 0.22. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period last year, the business earned $7.67 EPS. The company’s revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were given a dividend of $1.08 per share. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate’s dividend payout ratio is 11.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALL shares. Barclays increased their target price on shares of Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a report on Wednesday, April 8th. Evercore set a $225.00 target price on shares of Allstate in a report on Wednesday, January 7th. Citigroup increased their target price on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. TD Cowen lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $238.65.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.