Covestor Ltd Acquires 1,140 Shares of The Allstate Co. (NYSE:ALL)

Covestor Ltd boosted its holdings in shares of The Allstate Co. (NYSE:ALLGet Rating) by 251.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,594 shares of the insurance provider’s stock after acquiring an additional 1,140 shares during the period. Covestor Ltd’s holdings in Allstate were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Allstate in the 4th quarter worth approximately $290,333,000. Lord Abbett & CO. LLC acquired a new stake in Allstate in the 1st quarter worth approximately $284,759,000. Invesco Ltd. boosted its stake in Allstate by 22.2% in the 4th quarter. Invesco Ltd. now owns 7,232,598 shares of the insurance provider’s stock worth $850,916,000 after purchasing an additional 1,314,237 shares in the last quarter. American Century Companies Inc. boosted its stake in Allstate by 37.0% in the 1st quarter. American Century Companies Inc. now owns 4,341,890 shares of the insurance provider’s stock worth $601,395,000 after purchasing an additional 1,171,615 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Allstate by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,850,782 shares of the insurance provider’s stock worth $3,442,082,000 after purchasing an additional 745,096 shares in the last quarter. 76.17% of the stock is currently owned by institutional investors.

Allstate Price Performance

Allstate stock opened at $126.93 on Friday. The company’s fifty day moving average price is $123.50 and its 200 day moving average price is $128.13. The Allstate Co. has a 1 year low of $106.11 and a 1 year high of $144.46. The stock has a market capitalization of $34.31 billion, a P/E ratio of 44.23, a P/E/G ratio of 4.12 and a beta of 0.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.40 and a current ratio of 0.40.

Allstate (NYSE:ALLGet Rating) last announced its earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $0.50. Allstate had a net margin of 1.99% and a return on equity of 7.53%. The company had revenue of $12.95 billion for the quarter, compared to analysts’ expectations of $12.16 billion. During the same quarter in the previous year, the company posted $3.79 EPS. As a group, equities research analysts anticipate that The Allstate Co. will post 4.79 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.85 per share. The ex-dividend date is Tuesday, August 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.68%. Allstate’s payout ratio is 118.47%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALL. Barclays reduced their price target on shares of Allstate from $123.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, August 8th. Argus lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. TheStreet lowered shares of Allstate from a “b” rating to a “c+” rating in a research report on Wednesday, August 3rd. Evercore ISI raised their price target on shares of Allstate to $126.00 in a research report on Tuesday, August 9th. Finally, Raymond James reduced their price target on shares of Allstate from $165.00 to $155.00 in a research report on Thursday, July 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

About Allstate

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability 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 and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

See Also

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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