M Holdings Securities Inc. Makes New Investment in The Allstate Co. (NYSE:ALL)

M Holdings Securities Inc. purchased a new position in The Allstate Co. (NYSE:ALLGet Rating) during the 1st quarter, Holdings Channel.com reports. The firm purchased 1,857 shares of the insurance provider’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cowa LLC purchased a new stake in shares of Allstate in the 1st quarter worth approximately $30,000. US Asset Management LLC purchased a new stake in shares of Allstate in the 1st quarter worth approximately $32,000. MCF Advisors LLC purchased a new stake in shares of Allstate in the 1st quarter worth approximately $34,000. Chilton Capital Management LLC purchased a new stake in shares of Allstate in the 4th quarter worth approximately $35,000. Finally, Concorde Financial Corp purchased a new stake in shares of Allstate in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 76.17% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the topic of several recent analyst reports. Evercore ISI increased their target price on Allstate to $126.00 in a research note on Tuesday, August 9th. Barclays cut their target price on Allstate from $123.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, August 8th. Citigroup began coverage on Allstate in a report on Monday, May 23rd. They set a “buy” rating and a $159.00 price target on the stock. Wells Fargo & Company lowered their price target on Allstate from $116.00 to $110.00 and set an “underweight” rating on the stock in a report on Thursday, July 21st. Finally, Raymond James lowered their price target on Allstate from $165.00 to $155.00 in a report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Allstate Price Performance

Shares of Allstate stock opened at $129.42 on Monday. The Allstate Co. has a one year low of $106.11 and a one year high of $144.46. The stock’s fifty day moving average is $123.00 and its 200 day moving average is $128.32. The stock has a market cap of $34.98 billion, a P/E ratio of 45.09, a P/E/G ratio of 4.38 and a beta of 0.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.40 and a current ratio of 0.40.

Allstate (NYSE:ALLGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.50. Allstate had a return on equity of 7.53% and a net margin of 1.99%. The business had revenue of $12.95 billion during the quarter, compared to analyst estimates of $12.16 billion. During the same quarter in the prior year, the business posted $3.79 EPS. Sell-side analysts anticipate that The Allstate Co. will post 4.79 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, August 31st will be paid a $0.85 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.63%. Allstate’s payout ratio is presently 118.47%.

Insiders Place Their Bets

In other Allstate news, EVP Mark Q. Prindiville sold 5,511 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $125.93, for a total value of $694,000.23. Following the completion of the sale, the executive vice president now owns 15,552 shares in the company, valued at approximately $1,958,463.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.77% of the stock is currently owned by company insiders.

Allstate Profile

(Get Rating)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

See Also

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Co. (NYSE:ALLGet Rating).

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.