Asset Management One Co. Ltd. Increases Holdings in The Allstate Corporation (NYSE:ALL)

Asset Management One Co. Ltd. grew its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 8.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,763 shares of the insurance provider's stock after buying an additional 9,183 shares during the period. Asset Management One Co. Ltd.'s holdings in Allstate were worth $23,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Allstate by 56.0% during the 4th 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 during the last quarter. Keybank National Association OH lifted its holdings in Allstate by 1.7% during the 4th quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider's stock worth $66,489,000 after buying an additional 5,786 shares during the last quarter. Blackstone Inc. purchased a new stake in Allstate during the 4th quarter worth about $52,053,000. LexAurum Advisors LLC purchased a new stake in Allstate during the 1st quarter worth about $317,000. Finally, First Citizens Bank & Trust Co. lifted its holdings in Allstate by 5.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock worth $11,906,000 after buying an additional 2,981 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $191.02 on Thursday. The stock has a market capitalization of $50.59 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.02 and a beta of 0.35. The Allstate Corporation has a 52-week low of $157.48 and a 52-week high of $213.18. The stock's 50-day moving average price is $200.84 and its 200 day moving average price is $196.50. 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 released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same quarter in the previous year, the firm posted $5.13 EPS. The business's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate declared that its board has initiated a stock buyback program on Wednesday, February 26th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Monday, June 9th. Allstate's payout ratio is 27.32%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALL shares. Barclays reduced their target price on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. William Blair started coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating for the company. Argus raised Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Morgan Stanley boosted their target price on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has given 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.20.

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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