Park Avenue Securities LLC Acquires 1,348 Shares of The Allstate Corporation $ALL

Park Avenue Securities LLC boosted its stake in shares of The Allstate Corporation (NYSE:ALL) by 13.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,511 shares of the insurance provider’s stock after buying an additional 1,348 shares during the period. Park Avenue Securities LLC’s holdings in Allstate were worth $2,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Arlington Trust Co LLC grew its stake in Allstate by 261.8% in the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Hughes Financial Services LLC bought a new stake in shares of Allstate in the 1st quarter valued at about $28,000. Meeder Asset Management Inc. grew its position in shares of Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after buying an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Allstate during the 1st quarter worth approximately $43,000. Finally, Mattson Financial Services LLC purchased a new stake in Allstate during the fourth quarter valued at approximately $44,000. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 0.8%

NYSE ALL opened at $209.30 on Thursday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $55.15 billion, a PE ratio of 9.84, a P/E/G ratio of 0.82 and a beta of 0.37. The company has a fifty day moving average of $202.41 and a 200 day moving average of $200.67.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.61 EPS. Research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate’s dividend payout ratio is 18.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALL shares. Jefferies Financial Group lifted their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, August 11th. BMO Capital Markets boosted their target price on Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. William Blair initiated coverage on Allstate in a research note on Friday, June 6th. They issued a “sector outperform” rating for the company. Keefe, Bruyette & Woods raised their price target on Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the company an “equal weight” rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $231.47.

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.