Allspring Global Investments Holdings LLC Has $366.69 Million Stake in The Allstate Corporation (NYSE:ALL)

Allspring Global Investments Holdings LLC decreased its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,767,162 shares of the insurance provider's stock after selling 1,028,120 shares during the period. Allstate comprises 0.6% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 21st biggest position. Allspring Global Investments Holdings LLC owned about 0.67% of Allstate worth $366,686,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Allstate by 56.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider's stock worth $36,012,000 after buying an additional 67,032 shares in the last quarter. Keybank National Association OH grew its stake in shares of Allstate by 1.7% during the fourth quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider's stock valued at $66,489,000 after purchasing an additional 5,786 shares during the last quarter. Blackstone Inc. bought a new stake in shares of Allstate during the fourth quarter valued at approximately $52,053,000. First Citizens Bank & Trust Co. grew its stake in shares of Allstate by 5.5% during the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock valued at $11,906,000 after purchasing an additional 2,981 shares during the last quarter. Finally, LexAurum Advisors LLC bought a new stake in shares of Allstate during the first quarter valued at approximately $317,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Trading Up 0.8%

Shares of NYSE ALL opened at $195.67 on Friday. The company's fifty day moving average is $200.85 and its 200-day moving average is $196.47. The stock has a market cap of $51.82 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.01 and a beta of 0.35. The Allstate Corporation has a twelve month low of $157.50 and a twelve month high of $213.18. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.13 earnings per share. 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 Tuesday, July 1st. Stockholders of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.04%. Allstate's dividend payout ratio is 27.32%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Wells Fargo & Company decreased their price target on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley increased their price target on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. William Blair started coverage on shares of Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating on the stock. Finally, Evercore ISI raised their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and an average target price of $225.20.

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.

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