Allstate (ALL) Position Raised by HM Payson & Co.
HM Payson & Co. grew its holdings in shares of Allstate (NYSE:ALL) by 4.8% during the 1st quarter, HoldingsChannel reports. The fund owned 15,613 shares of the insurance provider’s stock after acquiring an additional 717 shares during the quarter. HM Payson & Co.’s holdings in Allstate were worth $1,480,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the business. Rampart Investment Management Company LLC purchased a new position in shares of Allstate during the first quarter worth approximately $1,982,000. HRT Financial LLC purchased a new position in shares of Allstate in the first quarter worth $2,288,000. BB&T Securities LLC increased its stake in shares of Allstate by 2.2% in the first quarter. BB&T Securities LLC now owns 141,040 shares of the insurance provider’s stock worth $13,370,000 after buying an additional 3,031 shares during the period. Archford Capital Strategies LLC purchased a new position in shares of Allstate in the first quarter worth $158,000. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in shares of Allstate in the first quarter worth $80,852,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on ALL. Wells Fargo & Co reaffirmed a “hold” rating on shares of Allstate in a research note on Thursday, May 17th. Argus lifted their target price on shares of Allstate from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 9th. Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Monday, May 7th. Citigroup decreased their target price on shares of Allstate from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, May 4th. Finally, Keefe, Bruyette & Woods raised shares of Allstate from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $90.00 to $93.00 in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $101.46.
Allstate (NYSE:ALL) last posted its quarterly earnings data on Tuesday, May 1st. The insurance provider reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.35. Allstate had a return on equity of 14.56% and a net margin of 8.93%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. analysts predict that Allstate will post 8.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Thursday, May 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, May 30th. Allstate’s payout ratio is currently 27.42%.
Allstate Company Profile
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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