MML Investors Services LLC lifted its stake in shares of Allstate Corp (NYSE:ALL) by 9.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,675 shares of the insurance provider’s stock after buying an additional 976 shares during the quarter. MML Investors Services LLC’s holdings in Allstate were worth $1,100,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Townsquare Capital LLC bought a new position in Allstate in the 4th quarter valued at about $218,000. Federated Investors Inc. PA increased its holdings in Allstate by 10.0% in the 1st quarter. Federated Investors Inc. PA now owns 1,143,114 shares of the insurance provider’s stock valued at $107,659,000 after buying an additional 103,920 shares during the period. Wetherby Asset Management Inc. increased its holdings in Allstate by 3.8% in the 1st quarter. Wetherby Asset Management Inc. now owns 12,330 shares of the insurance provider’s stock valued at $1,162,000 after buying an additional 446 shares during the period. Dalton Greiner Hartman Maher & Co. increased its holdings in Allstate by 65.4% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 170,647 shares of the insurance provider’s stock valued at $16,072,000 after buying an additional 67,490 shares during the period. Finally, Advisor Partners LLC increased its holdings in Allstate by 31.1% in the 1st quarter. Advisor Partners LLC now owns 16,876 shares of the insurance provider’s stock valued at $1,589,000 after buying an additional 4,001 shares during the period. Institutional investors own 77.46% of the company’s stock.
Several research firms have commented on ALL. UBS Group raised their target price on shares of Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Morgan Stanley raised their target price on shares of Allstate from $94.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, May 21st. Goldman Sachs Group raised shares of Allstate from a “neutral” rating to a “buy” rating and raised their target price for the company from $106.00 to $110.00 in a report on Wednesday, May 29th. Credit Suisse Group lowered shares of Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, April 8th. Finally, Zacks Investment Research lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $102.42.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.02. The company had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.82 billion. Allstate had a net margin of 6.26% and a return on equity of 12.66%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.96 EPS. Equities research analysts forecast that Allstate Corp will post 8.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, May 30th. Allstate’s dividend payout ratio (DPR) is presently 24.78%.
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The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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