Alliancebernstein L.P. Has $65.16 Million Stock Position in The Allstate Corporation $ALL

Key Points

• Alliancebernstein L.P. reduced its stake in The Allstate Corporation by 2.5%, now holding 314,696 shares valued at approximately $65.16 million.
• Several institutional investors, including AQR Capital Management and Advisors Asset Management, significantly increased their stakes in Allstate during the first quarter.
• Analysts have generally issued positive ratings for Allstate, with a consensus price target of $231.21 and a majority recommending a "Buy" or "Strong Buy" rating.

Alliancebernstein L.P. trimmed its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 314,696 shares of the insurance provider's stock after selling 8,042 shares during the quarter. Alliancebernstein L.P. owned 0.12% of Allstate worth $65,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in Allstate by 20.3% during the first quarter. AQR Capital Management LLC now owns 2,018,403 shares of the insurance provider's stock valued at $417,244,000 after purchasing an additional 340,150 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Allstate by 178.6% during the first quarter. Advisors Asset Management Inc. now owns 7,921 shares of the insurance provider's stock valued at $1,640,000 after purchasing an additional 5,078 shares in the last quarter. Atalanta Sosnoff Capital LLC raised its stake in shares of Allstate by 5.8% in the first quarter. Atalanta Sosnoff Capital LLC now owns 500,425 shares of the insurance provider's stock valued at $103,623,000 after acquiring an additional 27,266 shares during the last quarter. Ancora Advisors LLC raised its stake in shares of Allstate by 0.7% in the first 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. Finally, Aprio Wealth Management LLC raised its stake in shares of Allstate by 26.0% in the first 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. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALL. 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. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Finally, BMO Capital Markets upped their price objective on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.21.

Allstate Stock Performance

Shares of Allstate stock opened at $201.39 on Friday. The firm has a fifty day moving average of $200.72 and a two-hundred day moving average of $200.03. The stock has a market capitalization of $53.07 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.81 and a beta of 0.37. 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.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. As a group, equities research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.0%. Allstate's payout ratio is 18.81%.

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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