The Allstate Co. (NYSE:ALL) Shares Purchased by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC lifted its position in The Allstate Co. (NYSE:ALL) by 77.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,168 shares of the insurance provider’s stock after acquiring an additional 947 shares during the period. Charter Oak Capital Management LLC’s holdings in Allstate were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new position in shares of Allstate in the 4th quarter valued at $25,000. Twin Tree Management LP acquired a new position in shares of Allstate in the 4th quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in shares of Allstate in the 4th quarter valued at $29,000. Hopwood Financial Services Inc. acquired a new position in shares of Allstate in the 4th quarter valued at $29,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Allstate during the 4th quarter worth about $29,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALL has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. William Blair initiated coverage on Allstate in a research report on Friday. They set a “sector outperform” rating on the stock. Raymond James reaffirmed a “strong-buy” rating and set a $250.00 price target (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. Argus raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, Evercore ISI increased their price target on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.20.

Allstate Price Performance

NYSE:ALL opened at $208.10 on Friday. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $213.18. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $55.11 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.01 and a beta of 0.35. The stock’s 50-day moving average price is $199.59 and its 200-day moving average price is $197.16.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. Allstate had a net margin of 7.28% and a return on equity of 28.20%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $5.13 earnings per share. As a group, equities analysts expect that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Monday, June 9th. Allstate’s dividend payout ratio is presently 27.32%.

Allstate declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Allstate Profile

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.