Central Pacific Bank Trust Division Has $930,000 Stock Holdings in The Allstate Corporation $ALL

Key Points

• Central Pacific Bank Trust Division reduced its stake in The Allstate Corporation by 50.2%, holding 4,621 shares worth $930,000 at the end of the second quarter.
• Allstate reported an impressive EPS of $5.94 for the last quarter, significantly beating the consensus estimate of $3.20.
• The company's quarterly dividend of $1.00 will be paid on October 1st, yielding 2.0% and reflecting a modest dividend payout ratio of 18.81%.

Central Pacific Bank Trust Division trimmed its position in The Allstate Corporation (NYSE:ALL - Free Report) by 50.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,621 shares of the insurance provider's stock after selling 4,660 shares during the quarter. Central Pacific Bank Trust Division's holdings in Allstate were worth $930,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group grew its holdings in shares of Allstate by 3.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock worth $338,000 after purchasing an additional 51 shares in the last quarter. Vantage Point Financial LLC grew its holdings in shares of Allstate by 3.6% during the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock worth $310,000 after purchasing an additional 52 shares in the last quarter. Confluence Wealth Services Inc. grew its holdings in shares of Allstate by 0.7% during the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock worth $1,558,000 after purchasing an additional 54 shares in the last quarter. Linscomb Wealth Inc. grew its holdings in shares of Allstate by 1.3% during the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock worth $845,000 after purchasing an additional 54 shares in the last quarter. Finally, Ancora Advisors LLC grew its holdings in shares of Allstate by 0.7% during the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock worth $1,740,000 after purchasing an additional 55 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

Allstate stock opened at $200.40 on Friday. 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 company has a market capitalization of $52.81 billion, a PE ratio of 9.42, a P/E/G ratio of 0.81 and a beta of 0.37. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. The stock has a 50-day moving average price of $200.99 and a two-hundred day moving average price of $200.45.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $1.61 earnings per share. Analysts expect 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. Shareholders of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 2.0%. Allstate's dividend payout ratio (DPR) is currently 18.81%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group increased their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Citigroup raised Allstate to a "hold" rating in a report on Wednesday, August 13th. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research report on Wednesday, August 13th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley upped their price objective on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $231.21.

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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