Mount Lucas Management LP Has $2.20 Million Holdings in The Allstate Corporation (NYSE:ALL)

Mount Lucas Management LP grew its holdings in The Allstate Corporation (NYSE:ALL) by 297.1% during the first quarter, Holdings Channel.com reports. The firm owned 10,626 shares of the insurance provider’s stock after acquiring an additional 7,950 shares during the quarter. Allstate accounts for about 0.7% of Mount Lucas Management LP’s portfolio, making the stock its 27th biggest position. Mount Lucas Management LP’s holdings in Allstate were worth $2,200,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Allstate by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider’s stock valued at $1,799,681,000 after purchasing an additional 218,771 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Allstate by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock valued at $1,236,060,000 after purchasing an additional 191,147 shares during the last quarter. GQG Partners LLC increased its holdings in shares of Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after purchasing an additional 1,685,694 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Allstate by 3.0% in the fourth quarter. Invesco Ltd. now owns 3,681,306 shares of the insurance provider’s stock valued at $709,719,000 after purchasing an additional 106,730 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $250.00 price objective (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Morgan Stanley upped their price objective on shares of Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. UBS Group increased their target price on shares of Allstate from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Barclays increased their target price on shares of Allstate from $172.00 to $188.00 and gave the stock an “underweight” rating in a report on Monday, July 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.07.

Allstate Price Performance

Shares of Allstate stock opened at $197.55 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The company has a market cap of $52.32 billion, a PE ratio of 13.49, a P/E/G ratio of 1.00 and a beta of 0.33. The business has a 50 day moving average of $200.18 and a 200 day moving average of $196.73. The Allstate Corporation has a 52 week low of $162.27 and a 52 week high of $213.18.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. During the same period in the prior year, the company posted $5.13 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.02%. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

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.