BDF Gestion Has $4.89 Million Stake in The Allstate Corporation $ALL

Key Points

• BDF Gestion reduced its stake in The Allstate Corporation by 9.8% during the second quarter, now holding 24,267 shares valued at approximately $4.89 million.
• Allstate reported earnings of $5.94 per share for the last quarter, significantly beating the consensus estimate of $3.20, with overall revenue reaching $15.05 billion.
• The company announced a quarterly dividend of $1.00 per share, resulting in an annualized yield of 1.9%, to be paid on October 1st, with a dividend payout ratio of 18.81%.

BDF Gestion reduced its position in The Allstate Corporation (NYSE:ALL - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,267 shares of the insurance provider's stock after selling 2,645 shares during the period. BDF Gestion's holdings in Allstate were worth $4,885,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC increased its position in shares of Allstate by 261.8% in the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock worth $25,000 after acquiring an additional 89 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Allstate during the first quarter valued at approximately $28,000. Meeder Asset Management Inc. grew its position in Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Allstate during the first quarter valued at approximately $43,000. Finally, Mattson Financial Services LLC purchased a new position in Allstate during the fourth quarter valued at approximately $44,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. William Blair assumed coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating on the stock. UBS Group boosted their price objective on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Finally, Barclays reissued an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.47.

Allstate Price Performance

Shares of ALL traded up $0.98 during trading hours on Tuesday, hitting $207.44. The stock had a trading volume of 709,693 shares, compared to its average volume of 1,694,890. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $214.76. The company's fifty day moving average is $201.84 and its two-hundred day moving average is $200.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $54.66 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 0.82 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The company's revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 dividend yield of 1.9%. Allstate's dividend payout ratio (DPR) is currently 18.81%.

Allstate 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.