Bruce & Co. Inc. Has $25.99 Million Stock Position in The Allstate Corporation (NYSE:ALL)

Key Points

• Bruce & Co. Inc. has reduced its stake in The Allstate Corporation by 3.8%, now holding 125,500 shares valued at approximately $25.99 million, which accounts for 8.3% of its portfolio.
• Significant increases in Allstate holdings were observed from major investors, including Bank of America, which grew its stake by 157.9% recently.
• Allstate declared a quarterly dividend of $1.00 per share, set to be paid on October 1st, representing an annualized dividend yield of 2.04%.

Bruce & Co. Inc. trimmed its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,500 shares of the insurance provider's stock after selling 5,000 shares during the period. Allstate accounts for 8.3% of Bruce & Co. Inc.'s portfolio, making the stock its 3rd largest position. Bruce & Co. Inc.'s holdings in Allstate were worth $25,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after buying an additional 4,035,629 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Allstate by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after purchasing an additional 2,374,684 shares during the last quarter. Boston Partners grew its stake in Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after purchasing an additional 2,134,893 shares during the last quarter. Norges Bank purchased a new stake in Allstate during the 4th quarter valued at about $344,354,000. Finally, GAMMA Investing LLC grew its stake in Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after purchasing an additional 1,268,825 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on ALL shares. JPMorgan Chase & Co. boosted their price target on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Raymond James Financial reiterated a "strong-buy" rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. Morgan Stanley boosted their price objective on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Finally, William Blair assumed coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $227.07.

Allstate Price Performance

Shares of Allstate stock opened at $195.85 on Friday. The business has a 50 day simple moving average of $199.34 and a two-hundred day simple moving average of $196.91. The Allstate Corporation has a 12 month low of $166.46 and a 12 month high of $213.18. The stock has a market capitalization of $51.86 billion, a P/E ratio of 13.38, a PEG ratio of 1.01 and a beta of 0.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same period in the previous year, the company earned $5.13 EPS. Allstate's revenue was up 7.8% compared to the same quarter last year. As a group, analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.04%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

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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