Spirepoint Private Client LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Spirepoint Private Client LLC acquired a new stake in shares of The Allstate Co. (NYSE:ALL) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,000 shares of the insurance provider’s stock, valued at approximately $346,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Allstate in the first quarter valued at approximately $25,000. Private Wealth Management Group LLC acquired a new position in shares of Allstate during the 4th quarter worth approximately $25,000. Rise Advisors LLC bought a new stake in Allstate in the 1st quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate in the 1st quarter valued at $26,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Allstate during the 4th quarter valued at $36,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ALL shares. Wells Fargo & Company upped their price objective on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a report on Friday, May 10th. Morgan Stanley decreased their target price on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Roth Mkm upped their price target on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. HSBC raised Allstate from a “hold” rating to a “buy” rating and raised their price objective for the company from $158.00 to $190.00 in a report on Thursday, March 28th. Finally, The Goldman Sachs Group upped their target price on Allstate from $197.00 to $199.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.06.

Allstate Trading Down 1.3 %

Shares of Allstate stock traded down $2.31 during midday trading on Friday, reaching $174.38. The company had a trading volume of 1,239,509 shares, compared to its average volume of 1,269,976. The firm has a market cap of $46.02 billion, a PE ratio of 38.49, a P/E/G ratio of 1.99 and a beta of 0.48. The stock has a fifty day moving average price of $163.71 and a 200 day moving average price of $162.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Co. has a fifty-two week low of $104.29 and a fifty-two week high of $179.93.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. During the same quarter in the previous year, the company earned ($1.30) EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that The Allstate Co. will post 12.72 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 2.11%. Allstate’s payout ratio is currently 81.24%.

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.