Charles Schwab Investment Management Inc. Has $375.90 Million Stake in The Allstate Corporation (NYSE:ALL)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in The Allstate Corporation by 1.0%, selling 18,833 shares, and now owns approximately 1.82 million shares valued at around $375.9 million.
• Allstate's recent quarterly earnings surpassed expectations, with an earnings per share (EPS) of $5.94 compared to the consensus estimate of $3.20, although revenue of $15.05 billion fell short of the projected $16.59 billion.
• The company declared a quarterly dividend of $1.00, with a dividend yield of 1.9%, scheduled for payment on October 1st to shareholders of record as of August 29th.

Charles Schwab Investment Management Inc. reduced its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,815,339 shares of the insurance provider's stock after selling 18,833 shares during the period. Charles Schwab Investment Management Inc. owned about 0.69% of Allstate worth $375,902,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new stake in Allstate during the 1st quarter worth about $28,000. Kapitalo Investimentos Ltda bought a new stake in Allstate during the 4th quarter worth about $29,000. Meeder Asset Management Inc. grew its holdings in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after acquiring an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in Allstate during the 1st quarter worth about $43,000. Finally, Mattson Financial Services LLC bought a new stake in Allstate during the 4th quarter worth about $44,000. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALL shares. UBS Group increased their price objective on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Barclays reissued an "underweight" rating and set a $198.00 price objective (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. William Blair began coverage on shares of Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Finally, Raymond James Financial restated a "strong-buy" rating and set a $260.00 target price (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $229.20.

Allstate Stock Performance

Shares of ALL stock traded up $0.16 during midday trading on Tuesday, hitting $206.66. 1,246,054 shares of the company were exchanged, compared to its average volume of 1,757,891. The firm has a market capitalization of $54.46 billion, a P/E ratio of 9.72, a PEG ratio of 0.86 and a beta of 0.35. 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's 50 day moving average price is $198.19 and its two-hundred day moving average price is $198.09. The Allstate Corporation has a 52 week low of $169.95 and a 52 week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly 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. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the prior year, the company posted $1.61 earnings per share. Allstate's revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company 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 presently 18.81%.

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.