The Allstate Corporation $ALL Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of The Allstate Corporation (NYSE:ALL) by 439.5% during the 1st quarter, Holdings Channel reports. The fund owned 76,337 shares of the insurance provider’s stock after buying an additional 62,188 shares during the quarter. Fifth Third Bancorp’s holdings in Allstate were worth $15,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ALL. Candriam S.C.A. grew its holdings in shares of Allstate by 45.4% in the first quarter. Candriam S.C.A. now owns 195,952 shares of the insurance provider’s stock valued at $40,629,000 after purchasing an additional 61,172 shares during the period. Sequoia Financial Advisors LLC raised its stake in Allstate by 5.3% during the first quarter. Sequoia Financial Advisors LLC now owns 17,770 shares of the insurance provider’s stock worth $3,685,000 after purchasing an additional 896 shares during the period. Cedar Mountain Advisors LLC raised its stake in Allstate by 212.5% during the first quarter. Cedar Mountain Advisors LLC now owns 325 shares of the insurance provider’s stock worth $67,000 after purchasing an additional 221 shares during the period. Equitable Trust Co. acquired a new position in Allstate in the 1st quarter valued at about $204,000. Finally, Peterson Wealth Services boosted its holdings in Allstate by 20.1% in the 1st quarter. Peterson Wealth Services now owns 1,634 shares of the insurance provider’s stock valued at $339,000 after purchasing an additional 274 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,353 shares of company stock worth $4,851,560 in the last three months. 1.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALL. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. raised their target price on Allstate from $263.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday. UBS Group downgraded Allstate from a “buy” rating to a “neutral” rating and set a $261.00 target price on the stock. in a research report on Wednesday. Morgan Stanley upped their price target on Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Finally, Evercore set a $240.00 price target on Allstate in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $249.58.

Allstate Stock Down 2.4%

Shares of NYSE ALL opened at $250.19 on Wednesday. The firm has a market cap of $64.41 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 0.45 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $257.67. The business’s 50 day moving average is $225.57 and its two-hundred day moving average is $213.66.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the business posted $3.53 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts predict that The Allstate Corporation will post 29.99 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio is presently 9.53%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.