The Allstate Corporation (NYSE:ALL) Shares Bought by Boston Partners

Key Points

• Boston Partners significantly increased its stake in The Allstate Corporation by 613.9% during the first quarter, now owning approximately 0.94% of the company, valued at about $512.6 million.
• Allstate's recent earnings report revealed an EPS of $5.94, exceeding estimates by $2.74, while the company reported revenue of $15.05 billion, which was below the consensus estimate.
• The company announced a quarterly dividend of $1.00 per share, equating to an annualized dividend of $4.00 per share, resulting in a 1.9% dividend yield.

Boston Partners boosted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 613.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,482,654 shares of the insurance provider's stock after acquiring an additional 2,134,893 shares during the period. Boston Partners owned 0.94% of Allstate worth $512,627,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALL. Bank of America Corp DE raised its stake in shares of Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after buying an additional 4,035,629 shares during the period. GAMMA Investing LLC lifted its stake in Allstate by 25,026.1% during the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after purchasing an additional 1,268,825 shares during the last quarter. Castle Hook Partners LP lifted its stake in shares of Allstate by 1,303.3% in the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after acquiring an additional 766,058 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Allstate by 261.6% in the 4th quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock valued at $160,575,000 after acquiring an additional 602,533 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Allstate by 27.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock valued at $482,073,000 after purchasing an additional 497,982 shares during the period. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

ALL traded down $1.94 on Friday, reaching $206.76. The company had a trading volume of 1,049,492 shares, compared to its average volume of 1,575,931. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $54.48 billion, a PE ratio of 9.72, a P/E/G ratio of 0.86 and a beta of 0.35. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $213.18. The stock has a 50-day moving average price of $198.18 and a 200-day moving average price of $198.33.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.61 earnings per share. As a group, research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

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 paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio is 18.81%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley upped their target price on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Evercore ISI raised their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods lifted their target price on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $260.00 target price (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $229.33.

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.