Sunbelt Securities Inc. Acquires 101 Shares of The Allstate Co. (NYSE:ALL)

Sunbelt Securities Inc. raised its holdings in The Allstate Co. (NYSE:ALL) by 38.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 363 shares of the insurance provider’s stock after purchasing an additional 101 shares during the period. Sunbelt Securities Inc.’s holdings in Allstate were worth $63,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ALL. Rise Advisors LLC acquired a new stake in Allstate during the first quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the 1st quarter worth $26,000. Private Wealth Management Group LLC bought a new position in shares of Allstate in the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Allstate in the fourth quarter valued at about $36,000. Finally, Venturi Wealth Management LLC lifted its position in Allstate by 152.7% during the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALL shares. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $194.00 target price on shares of Allstate in a research note on Friday, June 21st. Wells Fargo & Company lifted their price target on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Evercore ISI upped their price objective on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group lifted their target price on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.88.

Allstate Stock Performance

Shares of ALL stock opened at $159.66 on Monday. 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 one year low of $100.57 and a one year high of $177.37. The business’s 50 day simple moving average is $165.87 and its 200 day simple moving average is $160.18. The stock has a market capitalization of $42.14 billion, a PE ratio of 35.25, a PEG ratio of 1.88 and a beta of 0.50.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.30) EPS. As a group, research analysts forecast that The Allstate Co. will post 12.15 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 2.30%. Allstate’s payout ratio is currently 81.24%.

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.