Allstate Corp (ALL) Position Increased by Rehmann Capital Advisory Group
Rehmann Capital Advisory Group increased its position in shares of Allstate Corp (NYSE:ALL) by 13.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,233 shares of the insurance provider’s stock after buying an additional 1,302 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Allstate were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Allstate during the 3rd quarter worth $110,000. Stelac Advisory Services LLC bought a new stake in shares of Allstate during the 3rd quarter worth $128,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Allstate by 1,316.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,331 shares of the insurance provider’s stock worth $131,000 after buying an additional 1,237 shares during the period. Cornerstone Wealth Management LLC bought a new stake in shares of Allstate during the 3rd quarter worth $146,000. Finally, Denali Advisors LLC bought a new stake in shares of Allstate during the 3rd quarter worth $158,000. 77.15% of the stock is owned by institutional investors and hedge funds.
ALL has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Monday, September 24th. Bank of America reduced their price target on shares of Allstate from $113.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Wells Fargo & Co set a $100.00 price target on shares of Allstate and gave the company a “hold” rating in a report on Wednesday, October 31st. Credit Suisse Group set a $112.00 price target on shares of Allstate and gave the company a “buy” rating in a report on Wednesday, November 14th. Finally, Morgan Stanley reduced their price target on shares of Allstate from $105.00 to $102.00 and set a “hold” rating for the company in a report on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Allstate presently has an average rating of “Hold” and a consensus target price of $102.82.
Shares of Allstate stock opened at $83.81 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.30. Allstate Corp has a fifty-two week low of $83.33 and a fifty-two week high of $105.36. The firm has a market capitalization of $29.31 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.14 and a beta of 0.85.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.28). Allstate had a net margin of 9.38% and a return on equity of 15.48%. The company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same period last year, the company earned $1.60 earnings per share. Allstate’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts expect that Allstate Corp will post 8.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, November 30th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Thursday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 27.42%.
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The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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