Sagespring Wealth Partners LLC Has $1.59 Million Stock Position in The Allstate Co. (NYSE:ALL)

Sagespring Wealth Partners LLC lifted its stake in The Allstate Co. (NYSE:ALL) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,662 shares of the insurance provider’s stock after acquiring an additional 648 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Allstate were worth $1,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Los Angeles Capital Management LLC grew its holdings in Allstate by 10.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider’s stock worth $98,065,000 after purchasing an additional 48,382 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Allstate by 56.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider’s stock worth $36,012,000 after purchasing an additional 67,032 shares during the period. CIBC Asset Management Inc grew its holdings in Allstate by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 40,579 shares of the insurance provider’s stock worth $7,823,000 after purchasing an additional 1,828 shares during the period. Keybank National Association OH grew its holdings in Allstate by 1.7% during the fourth quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider’s stock worth $66,489,000 after purchasing an additional 5,786 shares during the period. Finally, Blackstone Inc. bought a new position in Allstate during the fourth quarter worth about $52,053,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Raymond James restated a “strong-buy” rating and set a $250.00 price objective (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. Finally, Keefe, Bruyette & Woods boosted their price objective on Allstate from $228.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $225.20.

Allstate Trading Up 0.2%

Shares of ALL stock opened at $199.41 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock has a market cap of $52.81 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.35. The stock has a 50 day simple moving average of $200.53 and a 200 day simple moving average of $196.80. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $213.18.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same quarter in the prior year, the firm earned $5.13 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, June 9th. This represents a $4.00 annualized dividend and a yield of 2.01%. Allstate’s dividend payout ratio is currently 27.32%.

Allstate Company 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.