Ameriprise Financial Inc. Purchases 172,745 Shares of The Allstate Corporation $ALL

Key Points

• Ameriprise Financial Inc. increased its stake in The Allstate Corporation by 23.5%, acquiring an additional 172,745 shares to reach a total of 907,303 shares valued at approximately $187.9 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Allstate, with current target prices ranging from $230.00 to $255.00, indicating positive growth expectations for the company.
• Allstate recently announced a quarterly dividend of $1.00 per share, with a dividend yield of 1.9% and a payout ratio of 18.81%.

Ameriprise Financial Inc. boosted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 23.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 907,303 shares of the insurance provider's stock after acquiring an additional 172,745 shares during the period. Ameriprise Financial Inc. owned 0.34% of Allstate worth $187,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALL. Brighton Jones LLC raised its stake in Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC purchased a new position in Allstate during the 4th quarter valued at about $231,000. MML Investors Services LLC grew its holdings in Allstate by 51.1% during the 4th quarter. MML Investors Services LLC now owns 10,634 shares of the insurance provider's stock valued at $2,050,000 after buying an additional 3,595 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Allstate by 4.8% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,501 shares of the insurance provider's stock valued at $868,000 after buying an additional 207 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Allstate by 3.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 8,483 shares of the insurance provider's stock valued at $1,635,000 after buying an additional 303 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Citigroup raised Allstate to a "hold" rating in a report on Wednesday, August 13th. Evercore ISI lifted their target price on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. UBS Group lifted their target price on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, BMO Capital Markets lifted their target price on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $230.73.

Allstate Stock Down 0.7%

Shares of NYSE ALL opened at $205.1590 on Friday. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. 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 firm has a market capitalization of $54.06 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.84 and a beta of 0.35. The business has a 50-day moving average of $199.16 and a 200-day moving average of $199.05.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping 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%.Allstate's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 earnings per share. Sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate's dividend payout ratio is currently 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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