Ceredex Value Advisors LLC Has $28.31 Million Stake in The Allstate Corporation $ALL

Key Points

• Ceredex Value Advisors LLC reduced its stake in The Allstate Corporation by 35.1%, selling 74,038 shares and now owns approximately 0.05% of Allstate's shares worth about $28.3 million.
• Institutional investors hold 76.47% of Allstate's stock, with significant increases in holdings by firms like Vanguard and Price T Rowe Associates in the first quarter.
• Allstate announced a quarterly dividend of $1.00 per share, with a dividend yield of 2.0% and a payout ratio of 18.81%.

Ceredex Value Advisors LLC cut its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 35.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,712 shares of the insurance provider's stock after selling 74,038 shares during the period. Ceredex Value Advisors LLC owned approximately 0.05% of Allstate worth $28,309,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ALL. Bank of Hawaii grew its position in Allstate by 1.4% during the first quarter. Bank of Hawaii now owns 4,046 shares of the insurance provider's stock worth $838,000 after buying an additional 56 shares in the last quarter. ICONIQ Capital LLC lifted its stake in Allstate by 16.4% during the first quarter. ICONIQ Capital LLC now owns 1,463 shares of the insurance provider's stock worth $303,000 after purchasing an additional 206 shares during the period. Jump Financial LLC lifted its stake in Allstate by 717.6% during the first quarter. Jump Financial LLC now owns 50,984 shares of the insurance provider's stock worth $10,557,000 after purchasing an additional 44,748 shares during the period. SVB Wealth LLC boosted its holdings in Allstate by 92.1% during the first quarter. SVB Wealth LLC now owns 14,306 shares of the insurance provider's stock valued at $2,962,000 after purchasing an additional 6,857 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Allstate by 40.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,278 shares of the insurance provider's stock valued at $470,000 after purchasing an additional 658 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Trading Up 0.1%

Shares of NYSE:ALL traded up $0.15 during trading on Thursday, hitting $203.96. 1,016,022 shares of the company's stock were exchanged, compared to its average volume of 1,468,997. 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 firm has a market cap of $53.74 billion, a P/E ratio of 9.59, a PEG ratio of 0.83 and a beta of 0.35. The firm has a 50-day moving average price of $199.64 and a two-hundred day moving average price of $199.36. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data 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 business 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%. Allstate's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 EPS. Equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate's payout ratio is presently 18.81%.

Wall Street Analyst Weigh In

Several research firms recently commented on ALL. Barclays restated 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. Raymond James Financial reissued a "strong-buy" rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Evercore ISI boosted their target price on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. BMO Capital Markets increased their target price on shares of Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Finally, UBS Group lifted their price target on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $230.73.

About Allstate

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.