Miracle Mile Advisors LLC Acquires 63 Shares of The Allstate Co. (NYSE:ALL)

Miracle Mile Advisors LLC increased its stake in The Allstate Co. (NYSE:ALL) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,777 shares of the insurance provider’s stock after acquiring an additional 63 shares during the period. Miracle Mile Advisors LLC’s holdings in Allstate were worth $782,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Intrust Bank NA lifted its stake in shares of Allstate by 0.5% in the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock valued at $2,340,000 after purchasing an additional 61 shares during the last quarter. Angeles Wealth Management LLC raised its holdings in Allstate by 4.6% during the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after buying an additional 62 shares during the period. EverSource Wealth Advisors LLC lifted its position in Allstate by 4.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock worth $290,000 after buying an additional 63 shares during the last quarter. Empower Advisory Group LLC lifted its position in Allstate by 5.3% in the fourth quarter. Empower Advisory Group LLC now owns 1,286 shares of the insurance provider’s stock worth $248,000 after buying an additional 65 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in Allstate by 28.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 302 shares of the insurance provider’s stock worth $58,000 after buying an additional 66 shares during the period. 76.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ALL shares. Raymond James reissued a “strong-buy” rating and issued a $250.00 target price (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. Evercore ISI upped their price target on shares of Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. BMO Capital Markets restated an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. Finally, Argus raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.20.

Allstate Trading Down 3.6%

ALL opened at $200.63 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $199.49 and its two-hundred day moving average is $197.10. The company has a market capitalization of $53.13 billion, a P/E ratio of 11.81, a PEG ratio of 1.01 and a beta of 0.35. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $213.18.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Allstate’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $5.13 EPS. Analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, June 9th. Allstate’s dividend payout ratio (DPR) is 27.32%.

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.