The Allstate Corporation (NYSE:ALL) Shares Purchased by AGP Franklin LLC

AGP Franklin LLC grew its holdings in The Allstate Corporation (NYSE:ALL) by 7.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,593 shares of the insurance provider’s stock after buying an additional 391 shares during the quarter. AGP Franklin LLC’s holdings in Allstate were worth $1,088,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ALL. Price T Rowe Associates Inc. MD grew its stake in shares of Allstate by 2.4% during the fourth 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 grew its stake in shares of Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Allstate by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock worth $1,236,060,000 after purchasing an additional 191,147 shares in the last quarter. Invesco Ltd. grew its stake in shares of Allstate by 3.0% during the fourth quarter. Invesco Ltd. now owns 3,681,306 shares of the insurance provider’s stock worth $709,719,000 after purchasing an additional 106,730 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Allstate by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider’s stock worth $673,997,000 after purchasing an additional 477,221 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ALL shares. William Blair started coverage on shares of Allstate in a research report on Friday, June 6th. They issued a “sector outperform” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Raymond James Financial reissued a “strong-buy” rating and issued a $250.00 price target (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. Wells Fargo & Company reduced their price target on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price target on shares of Allstate from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $227.07.

Allstate Trading Up 1.0%

NYSE ALL opened at $195.85 on Monday. The stock has a market capitalization of $51.86 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.01 and a beta of 0.33. The Allstate Corporation has a 52-week low of $166.46 and a 52-week high of $213.18. The firm has a 50-day moving average price of $199.34 and a 200 day moving average price of $196.95. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40.

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

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 2.04%. Allstate’s dividend payout ratio is currently 27.32%.

Allstate Company 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.