AEGON ASSET MANAGEMENT UK Plc Acquires Shares of 10,200 The Allstate Corporation $ALL

Key Points

• AEGON Asset Management UK Plc opened a new position in Allstate during the first quarter, buying 10,200 shares valued at about $2.1 million.
• Institutional ownership in Allstate remains high, with several large funds adding to positions; the article says 76.47% of the stock is held by institutional investors.
• Allstate reported stronger-than-expected quarterly results, posting $10.65 EPS versus $7.31 expected and revenue of $16.94 billion, while also declaring a quarterly dividend of $1.08 per share.

AEGON ASSET MANAGEMENT UK Plc bought a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,200 shares of the insurance provider's stock, valued at approximately $2,115,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALL. Norges Bank purchased a new position in shares of Allstate during the fourth quarter worth approximately $531,294,000. GQG Partners LLC boosted its holdings in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider's stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider's stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Allstate by 1,766.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider's stock worth $180,911,000 after purchasing an additional 822,583 shares in the last quarter. Finally, Woodline Partners LP bought a new position in Allstate in the third quarter worth approximately $148,641,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALL shares. Zacks Research lowered Allstate from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Mizuho lowered their target price on Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a report on Friday, March 20th. Keefe, Bruyette & Woods downgraded Allstate from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $266.00 to $242.00 in a research report on Monday, June 8th. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Finally, Weiss Ratings upgraded Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, March 23rd. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and an average price target of $240.33.

Insider Transactions at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares of the company's stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mario Rizzo sold 18,578 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company's stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 22,353 shares of company stock valued at $4,851,560. Corporate insiders own 1.55% of the company's stock.

Allstate Price Performance

NYSE ALL opened at $220.72 on Friday. The company has a market cap of $56.82 billion, a PE ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18. The firm's 50 day moving average price is $215.95 and its 200-day moving average price is $209.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.53 earnings per share. Sell-side analysts forecast that The Allstate Corporation will post 29.55 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. Allstate's dividend payout ratio (DPR) is currently 9.53%.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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