Advisors Asset Management Inc. Has $1.64 Million Holdings in The Allstate Corporation $ALL

Key Points

• Advisors Asset Management Inc. increased its holdings in The Allstate Corporation by 178.6% in Q1, bringing their total to $1.64 million, following a purchase of an additional 5,078 shares.
• Allstate recently reported $5.94 earnings per share for the last quarter, significantly exceeding analysts' expectations of $3.20, with revenue growth of 5.8% year-over-year.
• The company declared a quarterly dividend of $1.00 per share, with an ex-dividend date of August 29th, representing an annualized yield of 2.0%.

Advisors Asset Management Inc. raised its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 178.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,921 shares of the insurance provider's stock after purchasing an additional 5,078 shares during the period. Advisors Asset Management Inc.'s holdings in Allstate were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Atalanta Sosnoff Capital LLC lifted its position in Allstate by 5.8% during the 1st quarter. Atalanta Sosnoff Capital LLC now owns 500,425 shares of the insurance provider's stock valued at $103,623,000 after purchasing an additional 27,266 shares during the period. Ancora Advisors LLC increased its stake in shares of Allstate by 0.7% in the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock valued at $1,740,000 after acquiring an additional 55 shares during the last quarter. Aprio Wealth Management LLC increased its stake in shares of Allstate by 26.0% in the 1st quarter. Aprio Wealth Management LLC now owns 2,166 shares of the insurance provider's stock valued at $449,000 after acquiring an additional 447 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in shares of Allstate in the 1st quarter valued at about $51,000. Finally, Federation des caisses Desjardins du Quebec increased its stake in shares of Allstate by 53.4% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 14,429 shares of the insurance provider's stock valued at $2,988,000 after acquiring an additional 5,022 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

NYSE ALL opened at $201.39 on Monday. The business has a 50 day simple moving average of $200.72 and a 200 day simple moving average of $200.11. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76. 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 stock has a market cap of $53.07 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.81 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping 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 business had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the prior year, the business earned $1.61 EPS. Allstate's revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 yield of 2.0%. Allstate's dividend payout ratio is 18.81%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ALL shares. UBS Group upped their price target on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley upped their price target on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. William Blair initiated coverage on Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating for the company. Finally, Cantor Fitzgerald raised Allstate to a "hold" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Allstate has an average rating of "Moderate Buy" and an average target price of $231.21.

About Allstate

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.

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