AIA Group Ltd Buys New Holdings in The Allstate Corporation (NYSE:ALL)

Key Points

• AIA Group Ltd has made a new investment of approximately $349,000 in The Allstate Corporation, acquiring 1,684 shares during the first quarter.
• Research firms have varied ratings for Allstate, with Barclays assigning an "underweight" rating, while Raymond James gives it a "strong-buy" rating and a price target of $260.00.
• Allstate recently reported earnings of $5.94 per share for the last quarter, significantly exceeding analysts' expectations, along with a quarterly dividend declaration of $1.00 per share.

AIA Group Ltd acquired a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,684 shares of the insurance provider's stock, valued at approximately $349,000.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in Allstate by 157.9% in the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares during the last quarter. GAMMA Investing LLC grew its stake in Allstate by 25,026.1% in the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares during the last quarter. Castle Hook Partners LP grew its stake in Allstate by 1,303.3% in the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after acquiring an additional 766,058 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Allstate by 261.6% during the 4th quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock worth $160,575,000 after purchasing an additional 602,533 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Allstate by 27.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock worth $482,073,000 after purchasing an additional 497,982 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of NYSE ALL traded down $1.94 during midday trading on Friday, reaching $206.76. 1,049,492 shares of the company traded hands, compared to its average volume of 1,742,630. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $213.18. The stock has a 50-day moving average price of $198.18 and a 200 day moving average price of $198.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $54.48 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.87 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the previous year, the business earned $1.61 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm 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 $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate's payout ratio is 18.81%.

Analysts Set New Price Targets

ALL has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 price target (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. William Blair initiated coverage on shares of Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating on the stock. Citigroup raised shares of Allstate to a "hold" rating in a research note on Wednesday. Finally, Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and a consensus price target of $229.33.

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.