Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 903 Shares of The Allstate Corporation $ALL

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in The Allstate Corporation (NYSE:ALL) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,316 shares of the insurance provider’s stock after buying an additional 903 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Allstate were worth $3,687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC grew its stake in shares of Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock valued at $2,352,000 after buying an additional 2,643 shares in the last quarter. Atlas Capital Advisors Inc. boosted its position in Allstate by 197.3% during the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock worth $1,390,000 after purchasing an additional 4,454 shares during the period. Richard Bernstein Advisors LLC bought a new position in Allstate during the first quarter worth $3,341,000. Dock Street Asset Management Inc. bought a new position in Allstate during the first quarter worth $207,000. Finally, First Citizens Bank & Trust Co. boosted its position in Allstate by 5.5% during the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider’s stock worth $11,906,000 after purchasing an additional 2,981 shares during the period. 76.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ALL has been the subject of a number of research analyst reports. Cantor Fitzgerald raised shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday, August 5th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Jefferies Financial Group lifted their price objective on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.56.

Allstate Stock Up 0.4%

ALL opened at $210.92 on Friday. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $55.58 billion, a P/E ratio of 9.92, a P/E/G ratio of 0.82 and a beta of 0.38. The stock has a fifty day moving average of $204.72 and a 200-day moving average of $201.06.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. On average, equities analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, August 29th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 29th. Allstate’s payout ratio is 18.81%.

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.