The Allstate Corporation $ALL Shares Sold by Ariel Investments LLC

Key Points

• Ariel Investments LLC reduced its stake in The Allstate Corporation by 3.2%, holding approximately 0.07% of the company with a valuation of $36.72 million.
• Allstate reported earnings of $5.94 per share, significantly exceeding analysts' expectations of $3.20, despite revenue falling short of estimates at $15.05 billion.
• The company declared a quarterly dividend of $1.00 per share, reflecting a 2.0% yield and an annualized payout of $4.00.

Ariel Investments LLC lessened its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,344 shares of the insurance provider's stock after selling 5,772 shares during the quarter. Ariel Investments LLC owned about 0.07% of Allstate worth $36,723,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Hughes Financial Services LLC bought a new position in shares of Allstate during the 1st quarter worth approximately $28,000. Meeder Asset Management Inc. grew its position in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after purchasing an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Allstate during the 1st quarter worth approximately $43,000. Mattson Financial Services LLC purchased a new stake in Allstate during the 4th quarter worth approximately $44,000. Finally, 1 North Wealth Services LLC purchased a new stake in Allstate during the 1st quarter worth approximately $51,000. Institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Citigroup raised shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. BMO Capital Markets boosted their target price on shares of Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Morgan Stanley boosted their target price on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group upped their price objective on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Allstate has a consensus rating of "Moderate Buy" and a consensus target price of $231.21.

Allstate Stock Performance

NYSE ALL traded down $6.94 during mid-day trading on Friday, reaching $201.39. 1,404,997 shares of the stock were exchanged, compared to its average volume of 1,111,447. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The business's 50 day moving average is $200.72 and its 200-day moving average is $200.03. The company has a market capitalization of $53.07 billion, a P/E ratio of 9.47, a P/E/G ratio of 0.81 and a beta of 0.37. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. On average, equities research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. 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.