Tidal Investments LLC Buys 7,324 Shares of The Allstate Co. (NYSE:ALL)

Tidal Investments LLC increased its stake in The Allstate Co. (NYSE:ALL) by 35.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,999 shares of the insurance provider’s stock after purchasing an additional 7,324 shares during the period. Tidal Investments LLC’s holdings in Allstate were worth $4,844,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Allstate in the first quarter worth $25,000. Private Wealth Management Group LLC bought a new position in shares of Allstate during the fourth quarter valued at $25,000. Rise Advisors LLC bought a new position in shares of Allstate during the first quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate in the 1st quarter worth about $26,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Allstate in the 4th quarter worth about $36,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ALL shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $194.00 price objective on shares of Allstate in a research report on Friday, July 5th. The Goldman Sachs Group boosted their price target on Allstate from $197.00 to $199.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Evercore ISI boosted their price target on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. BMO Capital Markets raised Allstate from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $190.00 to $191.00 in a research note on Thursday, July 18th. Finally, Morgan Stanley cut their target price on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.24.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 45,775 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Allstate Stock Up 1.2 %

Shares of NYSE ALL traded up $2.12 during mid-day trading on Friday, reaching $179.50. 190,886 shares of the company were exchanged, compared to its average volume of 1,561,903. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a market cap of $47.37 billion, a price-to-earnings ratio of 39.18, a P/E/G ratio of 1.79 and a beta of 0.48. The Allstate Co. has a 1 year low of $104.29 and a 1 year high of $180.87. The firm has a 50-day moving average of $164.44 and a 200 day moving average of $163.99.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.75% and a net margin of 5.03%. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same period in the prior year, the company posted ($4.42) EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, research analysts expect that The Allstate Co. will post 13.64 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

About Allstate

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.