DekaBank Deutsche Girozentrale boosted its holdings in shares of Allstate Corp (NYSE:ALL) by 31.4% during the second quarter, HoldingsChannel reports. The fund owned 524,443 shares of the insurance provider’s stock after purchasing an additional 125,437 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Allstate were worth $52,730,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Allstate by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,646,227 shares of the insurance provider’s stock valued at $218,651,000 after buying an additional 50,073 shares during the period. Geode Capital Management LLC lifted its stake in shares of Allstate by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock worth $390,468,000 after purchasing an additional 391,869 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Allstate during the 1st quarter worth $1,105,000. First Manhattan Co. lifted its stake in shares of Allstate by 1.4% during the 1st quarter. First Manhattan Co. now owns 28,494 shares of the insurance provider’s stock worth $2,683,000 after purchasing an additional 401 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Allstate during the 1st quarter worth $608,000. 78.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price objective on Allstate from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Goldman Sachs Group upgraded Allstate from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $106.00 to $110.00 in a research note on Wednesday, May 29th. Credit Suisse Group cut Allstate from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $100.00 to $94.00 in a research note on Thursday, July 11th. UBS Group increased their price target on Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Raymond James increased their price target on Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $107.25.
Shares of NYSE:ALL opened at $104.44 on Wednesday. Allstate Corp has a 52-week low of $77.00 and a 52-week high of $109.13. The stock has a market capitalization of $34.27 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.82. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.28 and a current ratio of 0.28. The business has a 50-day moving average price of $103.20.
Allstate (NYSE:ALL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.70. Allstate had a return on equity of 12.66% and a net margin of 6.52%. The firm had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. During the same period last year, the business posted $2.00 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts expect that Allstate Corp will post 9.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Thursday, August 29th. Allstate’s payout ratio is 24.78%.
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.
See Also: Initial Public Offering (IPO)
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