Candriam S.C.A. Has $43.18 Million Stake in The Allstate Corporation $ALL

Key Points

• Candriam S.C.A. increased its stake in The Allstate Corporation by 91.2%, acquiring an additional 99,471 shares to own a total of 208,509 shares, with a value of $43.18 million.
• The Allstate Corporation reported a quarterly earnings per share (EPS) of $5.94, significantly surpassing estimates of $3.20, alongside a revenue of $15.05 billion.
• Following recent performance updates, analysts have raised target prices for Allstate shares, with some brokerages issuing price targets as high as $246.00, indicating a consensus rating of "Moderate Buy."

Candriam S.C.A. increased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 91.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 208,509 shares of the insurance provider's stock after buying an additional 99,471 shares during the period. Candriam S.C.A. owned 0.08% of Allstate worth $43,176,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares during the period. Boston Partners boosted its position in Allstate by 613.9% during the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after purchasing an additional 2,134,893 shares during the period. GAMMA Investing LLC boosted its position 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 period. Castle Hook Partners LP boosted its position in Allstate by 1,303.3% during the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock worth $159,021,000 after purchasing an additional 766,058 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Allstate by 261.6% during the fourth quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock worth $160,575,000 after purchasing an additional 602,533 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL traded down $2.69 during mid-day trading on Monday, hitting $202.83. The company's stock had a trading volume of 440,691 shares, compared to its average volume of 1,725,296. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $53.45 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.83 and a beta of 0.35. The stock's 50-day moving average is $199.16 and its two-hundred day moving average is $199.10.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share 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 company had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the prior year, the business earned $1.61 earnings per share. Allstate's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio is presently 18.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALL shares. Citigroup raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. Barclays reaffirmed an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Keefe, Bruyette & Woods upped their target price on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. UBS Group increased their price objective on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley increased their price objective on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and an average price target of $230.73.

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.