FARMERS & MERCHANTS TRUST Co OF LONG BEACH Raises Holdings in The Allstate Corporation $ALL

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in shares of The Allstate Corporation (NYSE:ALL) by 4.4% in the second quarter, Holdings Channel.com reports. The fund owned 1,697 shares of the insurance provider’s stock after buying an additional 72 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Allstate were worth $342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC increased its position in Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Hughes Financial Services LLC acquired a new position in Allstate during the first quarter valued at approximately $28,000. Meeder Asset Management Inc. grew its stake in Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after buying an additional 99 shares during the period. McClarren Financial Advisors Inc. purchased a new stake in Allstate during the first quarter worth approximately $43,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Allstate in the first quarter worth $51,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. William Blair initiated coverage on shares of Allstate in a report on Friday, June 6th. They set a “sector outperform” rating on the stock. UBS Group raised their price objective on Allstate from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. BMO Capital Markets boosted their price objective on Allstate from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Cantor Fitzgerald raised Allstate to a “hold” rating in a research report on Wednesday, August 13th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.38.

Allstate Stock Up 1.4%

Shares of NYSE ALL opened at $212.76 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The stock’s 50-day simple moving average is $203.12 and its 200-day simple moving average is $200.83. The firm has a market cap of $56.06 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 0.84 and a beta of 0.37.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the prior year, the business posted $1.61 earnings per share. Allstate’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. 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 1.9%. Allstate’s dividend payout ratio (DPR) is presently 18.81%.

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.