American Century Companies Inc. Sells 299,054 Shares of The Allstate Corporation $ALL

Key Points

• American Century Companies Inc. reduced its stake in The Allstate Corporation by 14.0% in Q1, owning about 0.69% of the company worth $380.88 million after selling 299,054 shares.
• Allstate recently reported earnings of $5.94 EPS, significantly surpassing analysts' estimates of $3.20, although revenue for the quarter was $15.05 billion, below expectations of $16.59 billion.
• The company declared a quarterly dividend of $1.00 per share with an annual yield of 1.9%, which will be paid on October 1st, contributing to an overall payout ratio of 18.81%.

American Century Companies Inc. cut its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 14.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,839,394 shares of the insurance provider's stock after selling 299,054 shares during the quarter. American Century Companies Inc. owned 0.69% of Allstate worth $380,884,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Allstate by 0.5% in the first quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock valued at $6,791,914,000 after buying an additional 164,662 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Allstate by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after buying an additional 218,771 shares during the last quarter. Bank of America Corp DE lifted its stake in Allstate by 157.9% in the fourth 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 buying an additional 4,035,629 shares during the last quarter. GQG Partners LLC lifted its stake in Allstate by 2.1% in the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock valued at $912,288,000 after buying an additional 89,185 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Allstate by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock valued at $673,997,000 after purchasing an additional 477,221 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Up 1.5%

NYSE ALL traded up $3.1880 during trading on Tuesday, reaching $210.2780. 1,098,923 shares of the company's stock were exchanged, compared to its average volume of 1,732,458. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $213.18. The firm has a market capitalization of $55.41 billion, a PE ratio of 9.89, a P/E/G ratio of 0.84 and a beta of 0.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The company's fifty day simple moving average is $198.28 and its 200-day simple moving average is $198.62.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 EPS. Sell-side 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 dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's payout ratio is currently 18.81%.

Analyst Ratings Changes

A number of research analysts have recently commented on ALL shares. Evercore ISI raised their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Keefe, Bruyette & Woods raised their price target on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. William Blair started coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Finally, Jefferies Financial Group raised their price target on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.