The Allstate Corporation (NYSE:ALL) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in shares of The Allstate Corporation (NYSE:ALL) by 2.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 31,046 shares of the insurance provider’s stock after acquiring an additional 855 shares during the period. State of Alaska Department of Revenue’s holdings in Allstate were worth $6,428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ALL. Vanguard Group Inc. raised its position in shares of Allstate by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock worth $6,291,783,000 after purchasing an additional 389,426 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Allstate by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider’s stock worth $1,799,681,000 after purchasing an additional 218,771 shares in the last quarter. Bank of America Corp DE raised its holdings in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock worth $1,270,705,000 after buying an additional 4,035,629 shares during the period. Geode Capital Management LLC lifted its stake in Allstate by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock valued at $1,236,060,000 after buying an additional 191,147 shares in the last quarter. Finally, GQG Partners LLC lifted its stake in Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after buying an additional 1,685,694 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

NYSE ALL opened at $195.68 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $51.82 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.02 and a beta of 0.35. The Allstate Corporation has a 12-month low of $157.48 and a 12-month high of $213.18. The company has a 50 day moving average price of $200.76 and a two-hundred day moving average price of $196.74.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.13 EPS. As a group, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.04%. Allstate’s dividend payout ratio is currently 27.32%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALL. BMO Capital Markets restated an “outperform” rating on shares of Allstate in a report on Friday, May 16th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. William Blair started coverage on Allstate in a research report on Friday, June 6th. They issued a “sector outperform” rating for the company. Finally, Morgan Stanley lifted their price target on Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

Allstate 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.