Board of the Pension Protection Fund Buys New Position in The Allstate Corporation $ALL

Key Points

• The Board of the Pension Protection Fund has acquired a new stake in The Allstate Corporation, purchasing 3,800 shares valued at approximately $765,000.
• Allstate's recent quarterly earnings showed an EPS of $5.94, significantly exceeding the consensus estimate of $3.20, despite total revenue falling short of expectations at $15.05 billion.
• The company's quarterly dividend of $1.00 per share translates to an annualized yield of 1.9%, contributing to a dividend payout ratio of 18.81%.

Board of the Pension Protection Fund acquired a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,800 shares of the insurance provider's stock, valued at approximately $765,000.

Other institutional investors have also modified their holdings of the company. Arlington Trust Co LLC raised its holdings in Allstate by 261.8% in the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Hughes Financial Services LLC acquired a new position in Allstate in the first quarter valued at $28,000. Hilltop National Bank acquired a new position in Allstate in the second quarter valued at $34,000. Meeder Asset Management Inc. increased its stake in Allstate by 113.8% in 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 during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Allstate during the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Down 1.6%

Shares of NYSE ALL opened at $205.59 on Friday. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.70. The company has a market cap of $54.18 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.79 and a beta of 0.38. 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 stock has a fifty day moving average price of $206.06 and a 200 day moving average price of $201.07.

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. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the prior year, the firm earned $1.61 EPS. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate's dividend payout ratio (DPR) is 18.81%.

Analyst Ratings Changes

ALL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $235.00 to $254.00 and gave the company an "overweight" rating in a research note on Thursday. Jefferies Financial Group upped their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Evercore ISI set a $233.00 price objective on Allstate and gave the stock an "in-line" rating in a report on Wednesday, October 1st. Roth Capital set a $230.00 price objective on Allstate and gave the stock a "buy" rating in a report on Friday, September 26th. Finally, Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $234.50.

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.

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