Golden State Wealth Management LLC purchased a new stake in Allstate Corp (NYSE:ALL) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,471 shares of the insurance provider’s stock, valued at approximately $233,000.
A number of other large investors also recently made changes to their positions in ALL. Oregon Public Employees Retirement Fund grew its position in Allstate by 8,063.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,165,142 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 3,126,372 shares during the period. Norges Bank bought a new stake in Allstate in the fourth quarter valued at $189,048,000. Boston Partners grew its position in Allstate by 17.1% in the first quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock valued at $1,045,965,000 after acquiring an additional 1,620,871 shares during the period. California Public Employees Retirement System grew its position in Allstate by 38.2% in the fourth quarter. California Public Employees Retirement System now owns 2,123,049 shares of the insurance provider’s stock valued at $175,428,000 after acquiring an additional 586,566 shares during the period. Finally, Macquarie Group Ltd. grew its position in Allstate by 6.3% in the fourth quarter. Macquarie Group Ltd. now owns 7,852,608 shares of the insurance provider’s stock valued at $648,861,000 after acquiring an additional 468,725 shares during the period. Hedge funds and other institutional investors own 77.46% of the company’s stock.
Shares of ALL stock opened at $102.14 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $34.00 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.36 and a beta of 0.81. Allstate Corp has a 52 week low of $77.00 and a 52 week high of $102.73.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 1.96%. The ex-dividend date of this dividend is Thursday, May 30th. Allstate’s payout ratio is presently 24.78%.
ALL has been the topic of a number of analyst reports. Wells Fargo & Co reiterated a “hold” rating and issued a $94.00 price target on shares of Allstate in a research report on Tuesday, March 12th. Zacks Investment Research cut Allstate from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Credit Suisse Group cut Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price target on the stock. in a research report on Monday, April 8th. UBS Group upped their price target on Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley upped their price target on Allstate from $94.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 21st. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $102.42.
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Allstate Company Profile
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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