Zurcher Kantonalbank Zurich Cantonalbank Has $27.72 Million Stock Position in The Allstate Corporation (NYSE:ALL)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of The Allstate Corporation (NYSE:ALL) by 28.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 133,881 shares of the insurance provider’s stock after selling 52,911 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Allstate were worth $27,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALL. Hughes Financial Services LLC bought a new stake in shares of Allstate in the 1st quarter valued at about $28,000. Kapitalo Investimentos Ltda bought a new stake in shares of Allstate in the 4th quarter valued at about $29,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Allstate in the 4th quarter valued at about $40,000. Mattson Financial Services LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $44,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Allstate in the 1st quarter valued at about $54,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 1.9%

ALL stock opened at $191.93 on Tuesday. The stock’s 50 day simple moving average is $198.98 and its 200 day simple moving average is $197.03. The Allstate Corporation has a fifty-two week low of $168.29 and a fifty-two week high of $213.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $50.83 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33.

Allstate (NYSE:ALL) last posted its 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). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the prior year, the business earned $5.13 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.08%. Allstate’s dividend payout ratio is presently 27.32%.

Analysts Set New Price Targets

ALL has been the topic of a number of analyst reports. Evercore ISI upped their price target on Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Wall Street Zen lowered Allstate from a “buy” rating to a “hold” rating in a research report on Monday. Keefe, Bruyette & Woods upped their target price on Allstate from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Raymond James Financial restated a “strong-buy” rating and set a $250.00 target price (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Finally, UBS Group upped their target price on Allstate from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $227.07.

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.